Tuesday, July 16 2013 13:21

HSBC Named Best Bank in Armenia by Euromoney


ArmInfo. HSBC Bank Armenia cjsc has been named Best Bank in Armenia at this year's EUROMONEY Awards for Excellence.

The press servioce of the Bank has told ArmInfo that HSBC Group also received four global awards as well as twenty regional and country awards in different categories. The award ceremony took place in London on Thursday, 11 July.

EUROMONEY said, "HSBC trounced its larger rivals in Armenia, giving the sector's best pre-tax and return on equity result. The corporate franchise remained the primary driver of expansion, but HSBC also gained ground in the valuable premium retail sector."


These awards recognize institutions that demonstrate leadership in their markets, bringing to their customers the highest levels of services, innovation and expertise. HSBC Group's awards include Best Global Emerging Market Investment Bank, Best Global Emerging Market Debt House, Best Global Risk Adviser and Best Global Transaction Banking House.

Thies Clemenz, HSBC Bank Armenia Chief Executive Officer, said: "It is a great privilege to receive this award for the second time, which is testimony to another successful year of HSBC in Armenia. We are committed to supporting the growth of Armenia's economy and banking sector by playing a leading role in this industry."

The Financial Rating of the Banks of Armenia as of 1 April 2013, prepared by the Agency of Rating Marketing Information (ArmInfo), says that the total capital of HSBC Bank Armenia amounted to $90.6 mln, authorized capital - $44 mln, customers' deposits - $243 mln, assets - over $531 mln, lending - over $343 mln. Over Q1 2013 the Bank ensured the biggest net profit in the Armenian banking system ($4.7 mln, up almost 10% versus Q1 2012).
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