HSBC Bank Armenia gets The Banker’s award

PanARMENIAN.Net - HSBC Bank Armenia cjsc was named “Bank of the Year in Armenia” by the The Banker magazine in the category "Bank of the Year Awards 2011".

During the official ceremony, that took place on November 30, 2011 in London, HSBC Bank Armenia Board Member Mark Emmerson received the award.

Total of six awards were received by HSBC, which included HSBC Group being named "Bank of the Year 2011" globally.

Now in its 12th year, The Banker awards have become one of the most prestigious events within the industry. Criteria for choosing the winners included growth in assets, profitability, shareholder returns, strategic relationships, customer service, competitive pricing, innovative products and the level of support for small and medium businesses in the post-crisis period. The survey results will be published in the December 2011 issue of “The Banker” magazine.

“Receiving an award from such a prominent institution as The Banker magazine is another endorsement of the success of our strategy: targeted business expansion, introduction of innovative products and services, effective capital risk management, and strong cost control in all areas, for the benefit of our customers and other stakeholders,” said Astrid Clifford, Chief Executive Officer HSBC Bank Armenia cjsc.

The Bank’s Financial Highlights as at 30 September 2011 are: Net profit totaled 4.6bln drams with 53% increase on the same period in 2010; Return on equity: 24.35%, 3.36% points increase on the same period in 2010; The amount of paid taxes totaled AMD 2.5 billion, a 169% increase on the same period in 2010; Total assets increased to AMD 174 billion, a 20% increase on 31 December 2010; Gross customer loans totaled AMD 103.8 billion, a 20.7% increase on 31 December 2010; Customer deposits totaled AMD114.5 billion, a 9.3% point increase on the same period in 2010.