Asiamoney New Silk Road Finance Awards

Under its president and chief executive Muhammad Aurangzeb, Habib Bank has been transformed. It is among the most important non-Chinese banks – with Citi, Standard Chartered and HSBC – involved in the construction of the long and winding Belt and Road.

Under its president and chief executive Muhammad Aurangzeb, Habib Bank has been transformed. It is among the most important non-Chinese banks – with Citi, Standard Chartered and HSBC – involved in the construction of the long and winding Belt and Road.

Under its president and chief executive Muhammad Aurangzeb, Habib Bank has been transformed. It is among the most important non-Chinese banks – with Citi, Standard Chartered and HSBC – involved in the construction of the long and winding Belt and Road.

In many ways this was a breakout year for Citi and its relationships with the Belt and Road Initiative. Under the watch of Beibei Li, head of banking and origination for Belt and Road, the US lender figured out how to use its vast international network to serve clients in China that are keen to up their investments across the region.

One of the less-mentioned shifts in the Belt and Road Initiative over the last few years has been in the ability of mainland lenders and corporates to adapt to a complex and ever-changing world.

Standard Chartered is big in the Middle East, specializing in exactly the kind of heavy lifting – chunky loans, local bank accounts, foreign exchange, supply chain solutions – that Chinese firms most keenly need when they set out to fund projects along the Belt and Road, but which are very often in short supply.

HSBC’s capital markets team is at the top of its game in the Middle East. It is the go-to lender of choice for any Chinese firm looking not simply to raise capital along the Belt and Road, but also to access the kind of sophisticated financial solutions that can only be provided by a handful of global lenders.

What an interesting financial institution Banque Misr is. Under the leadership of its chairman, Mohamed El-Etreby, the Egyptian lender has long been a clear regional leader in corporate and social responsibility. But in recent years it has spotted the benefits of being a localized power player on the Belt and Road scene, and has taken steps to put itself at the heart of the project.

HSBC is head and shoulders above its peers in this award – as it should be. The UK-headquartered institution is the leading foreign lender in China and a powerhouse in the Middle East: in Euromoney’s Awards for Excellence 2020, it was awarded best investment bank for the region, as well as best bank for sustainable finance and for transaction services.