YEREVAN, JULY 15, /ARKA/. In Euromoney’s Awards for Excellence 2010, HSBC Bank Armenia has been named Best Bank in Armenia. The Award of Excellence was announced at a gala dinner in London on Thursday July 8, 2010, the Bank said in a press release.
“We are delighted to see that HSBC’s commitment to Armenia is being recognized not only locally but also internationally,” said Astrid Clifford, CEO of HSBC Bank Armenia.
HSBC Group won a total of 20 awards including Best Emerging Markets Bank and Best Wealth Management House.
Euromoney said, “HSBC is one of the few institutions that can call itself a truly global emerging markets bank, and with capital flows between developing countries on the up is well placed to intermediate in one of the most exciting growth areas in the financial markets. The bank can cater to its clients globally and holistically and in a much more efficient way than most of its rivals.”
The Euromoney Awards of Excellence incorporate 25 global awards for banking and capital markets; and awards for the best banks and securities houses in almost 100 countries around the world. All the awards have one central theme – they recognize institutions that demonstrate leadership in the markets in which they excel bringing the highest levels of services, innovation and expertise to their customers.
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 8,000 offices in 88 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,364 billion at 31 December 2009, HSBC is one of the world’s largest banking and financial services organisations. HSBC is marketed worldwide as ‘the world’s local bank’.
HSBC Bank Armenia cjsc was the first international bank to open in Armenia in 1996. The bank is a joint venture between the HSBC Group, which has 70 percent ownership, and members of overseas Armenian businesses. The bank offers a wide range of products and services to individual as well as corporate customers, including personal financial services, commercial banking and treasury and capital markets services. Thanks to the HSBC network in 88 countries and territories, the bank is uniquely positioned to provide truly international services for its customers.
According to ARKA’s data, on March 31 HSBC Bank Armenia’s total reserves stood at about 138.8 billion Drams, liabilities at 120.8 billion Drams, it had about 18 billion Drams of total capital and its aggregate credit investments reached 67.3 billion Drams.
In the first quarter of 2010 the Bank earned 934.5 million Drams in net profits. (1$-365.33 Drams). -0-
