“HSBC Bank Armenia” CJSC is a large bank, the first foreign bank in Armenia. It was established in 1996. In late Oct 1996 it was granted the Central bank’s license N67. 70% of the bank’s authorized capital belongs to “HSBC Europe B.V.”, 30% - to “Wings Establishment”, owned by British businessman of Armenian origin Watche Manoukian. The bank has seven branches in Yerevan.
“HSBC Bank Armenia” is developing its business in all directions, including retail banking. Here HSBC is very active due to its big experience acquired in as many as 75 countries, its capacities, skills and working style. As of today, the bank has over 40,000 customers, most of whom are physical entities.
Before 2005 “HSBC Bank Armenia” had been very conservative and had served only elite customers. However, growing inter-bank competition forced the bank to appear on the market with aggressive policies and attractive products. The bank has taken the lead in mortgage lending and is showing progress in auto and bank card lending. The bank is constantly researching the market so as to be able to effectively adapt to the situation. The bank continues actively serving corporate customers, big importers and manufacturers.
“HSBC Bank Armenia” joined NSADAQ OMX Armenia Jan 30 2009. In mid Dec 2008 the bank issued own non-documentary nominal coupon inconvertible bonds worth 1.5bln AMD. The bonds were redeemed in Jan 2010. The bank is interested in issuing new bonds and is waiting for favorable conditions.
In 2010 “HSBC Bank Armenia”, jointly with the Small and Medium Entrepreneurship Development National Center of Armenia (SMEDNC), established a Trade Academy, an institution offering Armenian businessmen free of charge training on trade financing.
2/3 of the bank’s loan book (the third biggest in Armenia’s banking sector) are commercial loans (30% of which have been offered to small and medium-sized companies) and 1/3 – retail loans. The bank is the 1st as to the amounts of mortgage loans and personal call and time deposits.
Euromoney has proclaimed “HSBC Bank Armenia” as the best bank of Armenia in 2010 and has granted it Excellence Award.
The bank issues HSBC cards as well as local ArCas and international MasterCards – over 50,000 so far.
Now that the law on motor third party liability insurance is taking effect, “HSBC Bank Armenia” is going to start providing insurance services in the capacity of an insurance agent. At the initial stage the bank will offer motor insurance, real estate insurance and insurance of people going abroad. In the future the bank may set up an insurance company, especially as it already has relevant experience: the bank had such a company but it was shut down because of low demand and market immaturity.
“HSBC Bank Armenia” has repeatedly won the “Best Rival” inter-bank survey held by ArmInfo news agency. In 2009 it was proclaimed the best in corporate management and technological intensiveness.
Chairman of the Board is Watche Manoukian (the United Kingdom). The board members are Steven Ross Sainfield Press (the United Kingdom), Anthony Michael Mahoney (the United Kingdom), Ranjit Gokarn (India), David Charles Budd (the United Kingdom), Ara Alexanyan (Armenia), Guy Lewis (the United Kingdom, Chief Executive Officer of HSBC Georgia JSC).
Chairwoman of the Management Board-CEO is Astrid Clifford (the United Kingdom). The board members are Irina Seylanyan (Armenia, Deputy Chief Executive Officer/Head of Markets), Vardan Grkikyan (Armenia, Deputy Chief Executive Officer/Chief Risk Officer), Gevorg Tarumyan (Chief Financial Officer), Astghik Drambyan (Chief Accountant).
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HSBC Bank Armenia CEO: A lot of our 
