April 1, 2000
HSBC Bank Armenia
HSBC Bank Armenia cjsc opened for business in Armenia in 1996 as Midland Armenia Bank O.J.S.C. and was renamed to HSBC in 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.
HSBC entered Armenia as the first international bank and the largest international investor, in line with its historic strategy of being where the growth is seen. It was a step that gave confidence towards the country’s future and attracted other investors to Armenia, a courageous step of utmost importance taken by HSBC, highly valued and recognised by the Armenian Government and the Central Bank.
The Yerevan office located in the heart of the city – near Republic Square, opened for customers on 4th of March in 1996. We started to serve clients with a diverse and international team of 18, very much reflecting the HSBC Group cultural mix (equal number of men and women, 75% Armenians and 25% coming from England, Scotland, Canada and India).
In 1996 we established a successful and growing business starting with under 100 clients, 18 staff, assets of just $5 million, one office and two ATMs which were the first in the country.
Today we serve around 33,000 customers through 10 offices located in Yerevan and have one of the largest networks of 55 ATMs located throughout the city. We offer a wide range of products and services to individual as well as corporate customers, through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and STATUS business lines.
We are one of the leading banks in the foreign exchange market, offering investment in fixed income bills and recognised as the best agent bank several times, by Armenia’s Central Bank and the Ministry of Finance and Economy. We continue to develop our products and services, introducing HSBC Global offerings that represent international standards in the local market.
Sustainability in HSBC:At HSBC, how we do business is as important as what we do. For us, sustainability means building our business for the long term by balancing social, environmental and economic considerations in the decisions we make.We conduct our business intent on supporting the sustained success of our customers, people and communities. Investing in communities we operate in focusing on education and the environment is integral part of how we do business.