Last Updated on Thursday, 3 September, 2020 at 10:03 am by Andre Camilleri
HSBC Bank Malta has been supporting AquaBioTech Group since its inception, nearly 25 years ago. Over the past quarter of a century, the International aquaculture, fisheries and aquatic environmental consulting, testing and development company has grown into a multinational organisation serving clients in more than fifty countries across all continents.
In supporting AquaBioTech Group’s growth, the bank provided the business with access to its unique trade finance solutions, delivering financial support in a structured manner. HSBC’s Global Trade and Receivables Finance team developed a bespoke funding solution specifically adapted to AquaBioTech Group’s trade requirements, with a focus on Import/Export financing and project financing. The bank also provided a receivables finance facility which improved liquidity and credit protection giving the company the ability to conduct business anywhere whilst guarding against the impact of late payments and bad debts.
Stefan Bonello, HSBC’s Relationship Manager for AquaBioTech Group commented: “The company had great potential right from the start but needed to build up its equity and asset base. In this scenario, it was clear that traditional financing did not meet the customer’s requirements and so we used HSBC’s trade finance solutions to map a way forward together. These solutions enabled our client to capture new opportunities and we were able to support the group’s ambitious growth strategy.”
Shane Hunter, founder and CEO at AquaBioTech Group, said: “Growing an international business is, of course, extremely challenging. Over the years we built capacity and experience, as well as a strong brand, to enable us to tender for global aquaculture projects. But our greatest challenge came when we started winning multiple contracts and that’s when the financial support from HSBC was extremely useful.”
AquaBioTech Group is now a strong and globally recognised brand within its industry. Currently, the company’s largest division offers design and engineering capabilities for the construction and management of high-tech land-based fish farms all over the world. However, it is still looking to develop new markets and anticipates continued strong growth in the coming years as it continues to build capacity.
Malta based companies who wish to learn more about how HSBC Malta can support their international growth through the bank’s international presence are invited to contact their Relationship Manager to discuss the range of trade finance solutions available or visit www.business.hsbc.com.mt