YEREVAN, August 27. /ARKA/. The Board of Armenia’s Central Bank granted preliminary approval for Ardshinbank CJSC to acquire a significant direct shareholding of 75% or more in the charter capital of HSBC Bank Armenia, the regulator reported on Tuesday.

Earlier, in February 2024, Ardshinbank announced it had reached an agreement with HSBC Europe B.V. (a subsidiary of HSBC Holdings plc) to acquire its Armenian subsidiary, HSBC Bank Armenia.

Ardshinbank offers diversified universal banking services, including retail, corporate, investment banking, and private banking and wealth management solutions. The bank serves over 375,000 clients with more than 1,700 employees, operating a strong multichannel sales platform with 65 branches. It also has a comprehensive mobile and online banking platform. Ardshinbank boasts the largest branch network in the country and maintains a representative office in Paris, France.

Ardshinbank is the only company in Armenia rated by all three major international rating agencies, with ratings at the sovereign level: S&P Global Ratings (B+ with a Positive outlook), Moody's (Ba3 with a Stable outlook), and Fitch (BB with a Stable outlook). The bank is also the sole Armenian company to have issued public Eurobonds in the RegS/144A format on international capital markets.

Ardshinbank is committed to investing in the alternative energy sector, advancing its green banking initiatives. The bank's operations are based on social and environmental responsibility, combined with strong corporate governance. Its activities are regulated by the Central Bank of the Republic of Armenia.

A subsidiary of the HSBC Group, HSBC Bank Armenia was established in 1996. The bank serves around 30,000 clients through six offices in Yerevan, employing approximately 310 staff members. HSBC Bank Armenia is regulated by the Central Bank of Armenia. As of December 31, 2023, the bank's assets amounted to approximately 290 billion Armenian drams, with a loan portfolio of about 185 billion drams and customer deposits totaling around 200 billion drams.