YEREVAN, August 1. /ARКА/. Ardshinbank has submitted an offer to acquire HSBC Malta, David Sargsyan, deputy chairman of the Armenian bank, told the Times of Malta.
“Ardshinbank plans to revive the Mid-Med Bank brand and use Malta as a “hub” to expand in Europe, if its bid for HSBC Bank Malta succeeds,” he said.
Sargsyan believes Ardshinbank has a fairly good chance of “winning this race,” citing its recent acquisition of HSBC Armenia. At the time of the sale of HSBC Armenia to Ardshinbank in 2024, HSBC Armenia’s board of directors was headed by former HSBC Malta CEO Andrew Bean.
Speaking about choosing Malta, Sargsyan pointed to a combination of several factors, the main one being the ease of doing business and the country’s economy, which is much less bureaucratic than other EU countries.
The acquisition of HSBC Malta will mark the first step for the Armenian bank outside Armenia.
“In the medium term, in 3-5 years, we want to start moving within the EU, using the Maltese operation as a hub,” Sargsyan explained.
Ardshinbank is a leading bank in Armenia offering diversified universal banking services. As of the end of the first half of 2025, Ardshinbank’s capital exceeded AMD 386 billion, the bank’s assets amounted to AMD 2.4 trillion (more than 20% of the assets of the entire system), and net profit exceeded AMD 68 billion. As of June 30, 2025, the bank’s loan portfolio amounted to more than AMD 1.3 trillion.-0-
