Armenian banking sector shows activation tendency
Armenian banking sector shows gradual activation tendency, based on January-February results.
As HSBC Bank Armenia cjsc Chief Executive Officer Astrid Clifford told a news conference in Yerevan, "data for January-February 2010 proves the rising demand for crediting; still, we'll continue to practice caution."
"There are no fundamental problems in Armenian foreign currency exchange market," Ms. Clifford said, commenting on fluctuations in exchange rate.
On March 17, AMD/USD exchange rate amounted to AMD 400,10/ USD 1, thus exceeding the "psychological" mark.
HSBC Bank Armenia was established as a closed joint stock company under the name Midland Armenia Bank J.S.C. on 1996 and has been renamed into HSBC Bank Armenia cjsc on 1999. The bank is a joint venture between the HSBC Group, which has a 70% ownership, and members of overseas Armenian businesses with 30% ownership. It is one of the leading banks in the foreign exchange market.
HSBC Bank Armenia cjsc offers a wide range of products and services to individual as well as corporate customers in Armenia and abroad.
The bank is the member of SWIFT and Bankmail payment
As HSBC Bank Armenia cjsc Chief Executive Officer Astrid Clifford told a news conference in Yerevan, "data for January-February 2010 proves the rising demand for crediting; still, we'll continue to practice caution."
"There are no fundamental problems in Armenian foreign currency exchange market," Ms. Clifford said, commenting on fluctuations in exchange rate.
On March 17, AMD/USD exchange rate amounted to AMD 400,10/ USD 1, thus exceeding the "psychological" mark.
HSBC Bank Armenia was established as a closed joint stock company under the name Midland Armenia Bank J.S.C. on 1996 and has been renamed into HSBC Bank Armenia cjsc on 1999. The bank is a joint venture between the HSBC Group, which has a 70% ownership, and members of overseas Armenian businesses with 30% ownership. It is one of the leading banks in the foreign exchange market.
HSBC Bank Armenia cjsc offers a wide range of products and services to individual as well as corporate customers in Armenia and abroad.
The bank is the member of SWIFT and Bankmail payment
