YEREVAN, October 5. / ARKA /. HSBC Bank Armenia has handed today Trade Award prizes to its best five clients. The Main Prize went to Aray company. Other best companies are Karcomauto Group (it was awarded the prize of the bank’s CEO), Lia-K Group (it was awarded international trade prize), Mancho Group LLC (awarded as the best new client), Erebuni Medical Center (awarded for innovative trade).
HSBC Bank Armenia CEO, Astrid Clifford, said it is very important that export-oriented companies be encouraged and facilitated. According to her, the bank has been paying special attention to developing and presenting innovative solutions in trade financing that will enable Armenian companies to make the transition from traditional financial instruments to more comprehensive and effective solutions. She said trade financing is one of the most important activities of HSBC in the world, and Armenia in this regard is well placed to contribute to the continued success of HSBC. She said HSBC Bank Armenia accounts for 40% of trade financing in the country, which is a high indicator, but the bank will not stop at it.
She said the bank’s customers were able to take part in pan-European conferences, in particular, one client took part in Trade Summit hosted by Shanghai in June. Next week Germany’s Hamburg will host an HSBC-organised conference, and in November three representatives of Armenian business selected of 40 clients will travel to Barcelona, Spain, to take part in the European Business Awards.
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.
According to ARKA’s data, as of June 30, 2011 HSBC Bank Armenia’s assets totaled 155.2 billion drams, liabilities stood at 128 billion drams, the total capital was about 27.2 billion drams, the authorized capital – 10.4 billion, its outstanding loan portfolio was 90.8 billion drams, and the liabilities before clients – 109.1 billion drams. In the first half the bank earned about 2.8 billion drams in net profits. ($1 – 375.17 drams). -0-
