HSBC Bank Armenia trade finance market share totals 40%

 September 19, 2011 - 16:06 AMT

PanARMENIAN.Net - HSBC Bank Armenia Chief Executive Officer assessed the Bank's 40% trade finance market share as a high result, considering the number of commercial banks (22) in Armenia.

At news conference in Yerevan, Astrid Clifford characterized trade financing as a priority direction with HSBC, with the Bank aiming its efforts at expansion of trade financing activities.

As Ms. Clifford further reminded, 3 Armenian companies have been awarded a ‘Ruban d’Honneur’ prize under the category "The Chairman's Selection" in the penultimate stage of the European Business Awards, sponsored by HSBC. Successful companies include AUM LTD, Byurakn LLC and Manana Grain LLC representing the crème de la crème of Armenia’s business.

100 of Europe’s most dynamic businesses have survived intensive and rigorous judging to make it onto the finalists list. With victory in their sights they now have a chance to be crowned as one of ten overall category winners in the Awards. ‘Ruban d’Honneur’ winners in each of the categories will be announced at the Awards ceremony in Barcelona on 22nd November 2011.