HSBC Bank Armenia awards its Trade Finance Best Customers

15.06.2016 15:18
HSBC Bank Armenia awards its Trade Finance Best Customers

YEREVAN, June 15. /ARKA/. HSBC Bank Armenia has named today the winners of its seventh Best Trade Customers Award. Speaking at the Award giving ceremony, HSBC Bank Armenia CEO Thies Clemenz said HSBC Trade Awards have become a benchmark for performance in Armenia’s trade finance industry.
'I would like to congratulate all five of our clients who we honor today. These companies have performed impressively throughout 2015 and played an enormous role in developing their sphere of business in the country. They have demonstrated growth, international connectivity, outstanding loyalty or introduced innovative technologies,' he said.
'I would also like to thank our trade finance people for their outstanding effort and delivering HSBC network to customers. Geographic reach of HSBC network allows to bank clients on both sides of a transaction and we can help them overcome obstacles and manage risk and liquidity costs more effectively. HSBC Armenia trade specialists are uniquely positioned to be the bridge between customers around the world,' he added.
'According to HSBC’s observations of trends in the world of trade, today trade is increasingly about services – which are more likely to be transmitted over the internet than across the ocean, versus trade at the start of the 20th century when international trade would mean a steamship with crates on board.
Services – the sale and delivery of intangible products to consumers – comprise “the largest and most dynamic component” of economies around the world, according to the World Trade Organization. The sector represents about 60% of world GDP and about ‎80% of GDP in some developed markets, and is growing fast in large emerging markets such as China but also in Armenia. Growth can be seen in Armenia’s trade volumes of services like accommodation, entertainment as well as information and communication.
In the world of slow economic growth and recent industrial data showing a gloomy picture for the global economy services trade is a rare bright spot to be looked at. And we have made sure that one of today’s awards would go to a client engaged in services trade.'
Arthur Petrosyan, HSBC Bank Armenia, Deputy Head of Banking, said; 'In 1865 HSBC was born from one simple idea – to finance the growing trade between Europe, India and China. In regards to this, not much has changed since then except for the fact that today HSBC Group serves more than 47 million customers in 71 countries and territories, including in Armenia.
HSBC’s geographic spread gives us the competitive advantages and an opportunity to tell to our customers - when and if your business crosses the borders of Armenia, HSBC can help you on both sides. This is the slogan we adopted seven years ago and follow to date, rewarding and encouraging clients that make best use of these opportunities. The five winners who we honor today were recognized best trade customers of 2015 for demonstrating their innovative solutions, active participation in the development of their sphere and strong growth.'

The five 2015 best trade customers are:

1. Best Trade Customer – International Trade Award: AES TRADE LLC (Anna Hovhannisyan, Financial Director)

This company reached outstanding achievement in international trade in 2015 and had expanded their operation to Georgian market. They have also succeeded in providing competitive pricing for their products produced locally. AES Trade LLC is represented in Armenia by “Smart Line Profiles” brand since 2013 and is engaged in production and sales of a wide range of PVC profiles and windowsills for doors and windows. By using HSBC trade finance solutions and in partnership with HSBC USA clients the company had succeeded in reducing production costs which resulted in ensuring reduced and competitive pricing for consumers.

2. Best Trade Customer – Best Innovative Trade Award: REDINET CJSC (Andranik Karamyan, Director)

This company is awarded for promoting implementation of energy efficiency projects in Armenia. In 2015 the company has participated and won four major tenders for implementing energy efficiency equipment, totaling AMD1.3billion. Redinet CJSC was established in 2001 and since then carries out activity in the sphere of communication and informational technologies, holding its essential position in the Armenian, Georgian and regional telecommunication markets. The main mission of the company is design and “turn-key” construction of telecommunication units, supply, installation and integration of telecommunication equipment, as well as servicing and maintenance. In cooperation with HSBC the company has implemented projects for installation of energy efficiency systems, as a result of which four large institutions of Armenia now use innovative and energy efficient systems. This is fully in line with HSBC’s principles and values of running a sustainable business.

3. Best Trade Customer – Best Newcomer Trade Award: HKG CJSC (Gagik Makaryan, Director)

Best new-to-bank and new-to-trade customer doing business internationally. This business has been selected to be awarded in this category due to largely spreading the use of trade finance solutions for different spheres of their diversified business. HKG CJSC is a family owned business which was established in 1998 and is engaged in feed production, poultry farm, pig farm, flour milling and production of alcoholic beverages. The company is currently engaged in establishing a new brewery in Dilijan. Overall, this is a domestic business focusing on local market and increasing its share in the country. Cooperation with HSBC has started in 2015 in scope of financing import of the production equipment required for the brewery in Dilijan. HSBC Netherlands and HSBC Czech Republic have also been involved for this transaction.

4. Best Trade Customer – CEO's Special Award: ARPANIV LLC (Artyom Khandanyan, Director)

Cooperation with this business dates back to 2008. HSBC is the only financing bank for this business. It is for their loyalty, extensive usage of HSBC trade services and products that this business has been selected to be recognized in this category. ARPANIV LLC was established in 2003. The company is engaged in import, wholesale and retail trade of tires and batteries produced in Russia, Ukraine, USA, Japan and other Asian countries in Yerevan and other regions of Armenia. The company is also trying to enter foreign markets and currently succeeds with supplying products to Georgia and USA. The company is HSBC Armenia’s borrowing customer since 2008 and during these years has demonstrated growth by expanding the business to other markets with further potential. Currently the company works on a project with a top tire producing company “Goodyear Middle East” and plans to expand further.

5. Best Trade Customer – Grand Prix: ASCE GROUP OJSC (Vahan Harutyunyan, Member of Board of Directors).

HSBC Armenia has issued the largest LC in its own history for this business, which will result in doubled production capacity of the business and extended export opportunities. ASCE Group OJSC was founded in 1995 and is one of the top producers of metal products used for construction purposes in Armenia. It is engaged in manufacturing and wholesale trade of reinforcement steel bars, wire rods and grinding steel balls. In 2007, the production was modernized and equipped with high quality German production lines and equipment. Starting from 2011 the company has invested over USD40m in construction and further modernization of its factory with the latest technologies. Thanks to its production quality, the company successfully competes with the importers of similar metal products in the local market. In 2015, with the help of HSBC Armenia trade finance solutions the company has been importing a new metal processing production line from The Netherlands, as a result of which will double its production capacity, create new workplaces and locally produce “made in Armenia” competitive products.

HSBC Bank Armenia cjsc was established as a closed joint stock company under the name Midland Armenia Bank J.S.C. in 1996 and was renamed HSBC Bank Armenia cjsc in 1999. The bank is a joint venture between the HSBC Group, which has 70 per cent ownership, and members of overseas Armenian businesses with 30 per cent ownership. HSBC Armenia serves around 33,000 customers through nine offices located in Yerevan and around 400 employees. The bank has assets of AMD256.6 billion as of 31 March 2016 and is one of the leading banks in the foreign exchange market in Armenia. -0-

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