On October 5, HSBC Bank Armenia cjsc held the second Trade Award official ceremony to announce Best Trade Customers of 2010.

Five customers received Trade Award Certificates and symbolic promotional gifts from Astrid Clifford, HSBC Bank Armenia Chief Executive Officer.

ARAY company was awarded with a Grand Prix as the Best Trade Customer; Best Newcomer Trade Award went to Mancho Group; CEO's Special Award was granted to Karcomauto Group; International Trade Award went to Lia-K Group; Innovation Trade Award was granted to Ebrebouni Medical Center.

HSBC Bank continuously puts special emphasis on development and introduction of innovative Trade Finance solutions to enable local companies make a shift from traditional financing instruments to more comprehensive and beneficial solutions. For Armenia it is vital to encourage and support country’s import and export businesses, according to Ms. Clifford.

As Aram Pinajyan, HSBC Bank Armenia Head of Commercial Banking noted, in Q3 2011, the bank provided 25% increase in commissions for trade financing services against 2010 results. The Bank’s trade financing portfolio will total approx. AMD 20 bln by the end of 2011.