Mon, 7 July
28.1 C
Yerevan
USD: 384.11 RUB: 4.88 EUR: 450.45 GEL: 141.38 GBP: 522.39

HSBC Bank Armenia plans to offer special privileged banking services to representatives of Armenian diaspora

YEREVAN, March 5. /ARKA/. Astrid Clifford, Chief Executive Officer of HSBC Bank Armenia cjsc, said today the bank plans to offer special privileged banking services to representatives of the Armenian Diaspora. She said a similar pilot project was implemented in 2009 with Russia.

She explained that the project will give Diaspora members an opportunity to open a bank account in Armenia and make use of all banking services, including money transfers, through Internet banking. She said there is an agreement in the bank that no commissions should be charged for all inter-bank remittances.

She said 3 million ethnic Armenians live in Armenia proper and about 8 million outside it. Having in mind that HSBC Group operates in 86 countries, it will be a very serious new market, she said.

‘It will be a serious package of banking services for Armenian Diaspora and we hope to make progress in this area this year,’ Astrid Clifford said.

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. Thanks to the HSBC network in 88 countries and territories, the bank is uniquely positioned to provide truly international services for its customers.

As of December 31, 2009 its total assets reached 135.8 billion Drams, liabilities- 118.7 billion Drams, total capital-17.1 billion Drams, chartered capital was 7.6 billion Drams, aggregate credit investments – 63.4 billion Drams, its net profit last year totalled 1.7 billion Drams. ($1 – 386.53 Drams).  -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Armenian parliament approves annual report on execution of 2024 state budget

At a session on Thursday, the National Assembly of Armenia approved the annual report on the execution of the 2024 state budget.

Euro to Armenian dram exchange rate increased slightly – Central Bank data

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 10, 2025, decreased by 0.29 points compared to June 10 and amounted to 383.25 drams.

Mechanism to stimulate cashless payments to be developed in Armenia

On Friday, the Armenian government held a meeting on issues related to stimulating cashless payments in the country.

Moody’s affirms Armenian government ratings at Ba3 with stable outlook

On June 26, 2025, Moody's affirmed the long-term issuer ratings in national and foreign currencies and senior unsecured debt in foreign currency of the Armenian government at Ba3, maintaining the stable outlook, the press service of the Ministry of Finance of Armenia reported.

LATEST NEWS

spot_imgspot_imgspot_img