Mon, 28 April
18.1 C
Yerevan
USD: 389.46 RUB: 4.73 EUR: 441.92 GEL: 141.70 GBP: 519.38
spot_img

HSBC Bank Armenia named bank of the year for second consecutive year

YEREVAN, December 5. / ARKA /. For the second consecutive year HSBC Bank Armenia CJSC was named “Bank of the Year in Armenia” for 2012 by “The Banker” in the category “Bank of the Year Awards 2012”. The award was received by HSBC Bank Armenia Board Member Mark Emmerson during the official ceremony held in London, the bank’s press service reported. “The Banker” awards have become one of the most prestigious events within the industry. The award is granted based on a combination of data received from banks around the world with analysis by the magazine’s experts. In addition to financial performance, other factors taken into account include the bank’s strategy, growth directions, initiatives designed to enhance returns, adoption and implementation of advanced technologies, and more. The survey results will be published in December 2012 issue of “The Banker” magazine. “Winning this prestigious award is an important token of recognition of the outstanding performance and impressive achievements of HSBC Armenia across its business by industry experts. The last two years were indeed record breaking in terms of financial results, which was due to the utmost focus on managing the needs and expectations of our customers who chose us for their everyday banking,” Thies Clemenz, Chief Executive Officer HSBC Bank Armenia CJSC said. According to the bank, as of September 30, 2012 its net profit amounted to 5.7 billion drams rising by 24% from a year ago, the assets grew by 15 percent from the beginning of the year to 207 billion drams , total loans surged by 23 percent to 133 billion drams, deposits saw an 8 percent rise to 131 billion drams and return on equity was 23 percent. HSBC Bank Armenia, a member of the HSBC Bank plc is owned by HSBC Europe BV (70%) and Wings Establishment (30%). -0-

spot_img

POPULAR

Draft law on crypto assets to be submitted to Armenian parliament in coming weeks – Deputy Chairman of Central Bank

The draft law on crypto assets, developed by the Central Bank of Armenia in the context of European norms, will be submitted to the Armenian parliament in the coming weeks, said Deputy Chairman of the Central Bank Armen Nurbekyan.

Armenia discusses bankruptcy reforms with ADB and AFD

Reforms of Armenian legislation in the field of bankruptcy were discussed at a meeting between Deputy Minister of Justice of Armenia Tigran Dadunts and representatives of the Asian Development Bank (ADB) and the French Development Agency (AFD).

Armenia may access $25 mln from the IMF under the SBA agreement in June

An International Monetary Fund (IMF) team led by Iva Petrova visited Yerevan from March 31 to April 10, 2025, to conduct discussions for the fifth review under the Stand-By Arrangement (SBA) with Armenia.

Armenia Enters Top 10 Countries in the World with Lowest Inflation in 2024 – IMF

Armenia was among the top 10 countries in the world with the lowest annual inflation in 2024. Such data is provided in an IMF study on 156 countries.

In Armenia, remittances have begun to recover after a 35% decline in 2024

On the demand side, average real wages in Armenia have increased in 2025, and net money transfers have shown an upward trend, contributing to consumption growth, according to the World Bank's Armenia Monthly Economic Update – April 2025.

LATEST NEWS

spot_imgspot_imgspot_img