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HSBC Bank Armenia cjsc held its third Trade Award official ceremony and announced its Best Trade Customers of 2011 Monday, at its head office premises.
Five customers received Trade Award Certificates and symbolic promotional gifts from Astrid Clifford, HSBC Bank Armenia Chief Executive Officer. Awards were granted in the following categories: Best Trade Customer - International Trade Award; Best Trade Customer - Innovation Trade Award; Best Trade Customer - Best Newcomer Trade Award; Best Trade Customer - CEO's Special Award; Best Trade Customer - Grand Prix.
HSBC Bank Armenia remains focused on bridging customers with global opportunities and presenting innovative financing solutions to local businesses. The bank's extensive network throughout 5 continents mixed with HSBC on-the-ground expertise in 80 local markets makes it possible to not only cover the risks inherent in international trade, but also to achieve best financial solutions for importers and exporters.
"HSBC has the right experience to help customers and prospects navigate global businesses. Our trade finance specialists provide Armenian importers and exporters with advice and expertise on a daily basis and during regular Trade Academy seminars, which have proved to be very popular. Today HSBC Armenia holds 36 percent of the local trade finance market share. But our aim is to make sure that whenever a customers' business crosses the borders of Armenia their choice of bank is always HSBC", - HSBC Bank Armenia Chief Executive Officer Astrid Clifford said.
In 2011 HSBC issued trade products for AMD18.5bln, being 43% up on 2010 relevant number. In particular, balance for documentary credits issued totaled AMD 6bln (annual growth - 61 percent), processed bank guarantees - AMD6.1bln (24 percent growth) and provided import loans totaled AMD 2.3bln (28 percent growth compared to 2010).
For the forth year in a row HSBC was recognized as "The Best Global Trade Finance Bank" in 2011 by Global Trade Review (GTR) magazine. In GTR's annual "Leaders in Trade 2011" readers' poll HSBC also won the "Best Global Export Finance Bank" award, thus becoming the first bank to win both awards in one year.
To recall, the shareholders of HSBC Bank Armenia are HSBC Europe B.V. with a 70% stake and Wings Establishment with a 30% stake. The bank serves over 35,000 private customers and nearly 5,000 corporate customers. The bank has 9 branches (all in Yerevan) and 50 ATMs. Ranking of Armenian Banks prepared by ArmInfo says general credit exposures of HSBC Bank Armenia totaled 114 bln drams as of Jan 1 2012, with the share of trade finance being 16%.