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-
