HSBC Group has retained its the title of "Best Factor 2007" – one of the prestigious Trade Finance Awards for Excellence 2007. The award marks an unprecedented fifth successive award, pushing Deutsche Bank into second place.

The worldwide demand for factoring services has increased by more than 24 per cent in the past year. HSBC has responded to this by opening new offices in Malta, Greece, Turkey and Mexico, and others are due to open in Poland and the Czech Republic in the near future.