HSBC Bank Armenia named as Best Foreign Exchange Provider

PanARMENIAN.Net - HSBC Bank Armenia cjsc was named the "Best Foreign Exchange Provider" in Armenia by Global Finance magazine (New York) in the category "World's Best Foreign Exchange Providers 2011".

Criteria for selecting the best currency trading providers in 86 countries included transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies, the Bank’s press office told PanARMENIAN.Net

HSBC Armenia is one of the leaders in the Armenian foreign exchange market with its annual FX turnover for 2010 composing around US$ 2 billion. The bank currently trades in 12 currencies, which are most demanded by customers in Armenia. However, thanks to HSBC's global network and presence in 87 countries and territories, the bank can provide FX solutions in a large variety of major and minor currencies at customer's request.

"Economic problems and monetary tightening cause volatility in the foreign exchange markets all over the world. So, in HSBC we always strive to be customers' choice for a strong and knowledgeable FX bank to help them coping with the turbulence in the markets.

It is also important to us to meet customers expectations in terms of introducing new FX products and technologies to the market. Recently we introduced to the Armenian clients cross-boarder trade settlements and accounts in Chinese RMB (Yuan). We will be shortly introducing to the Armenian market an on-line FX trading system used by HSBC customers worldwide, which will allow our customers in Armenia to conduct FX transactions on-line without visiting the bank" said Irina Seylanyan Head of Global Banking and Markets, Deputy Chief Executive Officer HSBC Bank Armenia cjsc.