"HSBC BANK ARMENIA" PRESENTED A NEW BRANCH IN YEREVAN

armradio.am
14.04.2008 17:53

Chief Executive Officer of "HSBC Bank Armenia" Tim Slater stated that
the opening of another branch consolidates the intentions of the bank
on extending its branch network.

"We believe that Armenia has a chance to become the regional financial
center and we consider the opening of the Head Office in the given
context," Tim Slater stated.

The Deputy Chairman of the Central Bank of Armenia Artur Dzhavadyan
noted that, entering the Armenian market 12 years ago, "HSBC Bank
Armenia" established a new level for the market, due to which
the competition strengthened, new banking tools and products were
implemented, the service improved.

Artur Dzhavadyan informed that the HSBC Group has plans on establishing
an insurance company in Armenia, which will be put into operation in
the course of the nearest two years. Tim Slater noted that the new
insurance company will provide services of pension deposit insurance
and life insurance.