HSBC Bank Armenia CJSC wins the Best Bank in Armenia award from Global Finance

PanARMENIAN.Net - HSBC Bank Armenia CJSC wins the Best Bank in Armenia award for the second consecutive year from Global Finance, New York in the category "The World's Best Emerging Market Banks in Asia 2009" exclusive survey.



HSBC Bank Armenia was considered the best bank in Armenia and HSBC was named a regional winner in Asia.

Criteria for choosing the winners included growth in assets, profitability, strategic relationships, customer service, competitive pricing, and innovative products.



With the input from industry analysts, corporate executives and banking consultants Global Finance editors selected the best emerging market bank in the region and in 20 countries.



The survey results have been published in the May 2009 issue of Global Finance magazine.



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. It is one of the leading banks in the foreign exchange market. HSBC Bank Armenia CJSC has 10 branches and offices in Yerevan, as well as 45 ATMs located throughout the city.



As of Mar. 31, 2009, banks aggregate capital comprised AMD 14 877,392 thous., assets - AMD 128 233 974 thous., liabilities - AMD 113 356 582 thous.