Armenian cenbank responds to Reuters article on HSBC revision plans

YEREVAN, JANUARY 30, ARMENPRESS. The Central Bank of Armenia has responded to the January 29 Reuters article on HSBC considering selling or shrinking its businesses in several countries, including in Armenia.

“We inform that during the regular meetings between the Armenian Central Bank President and the HSBC Group executives the bank’s presence and involvement in the Armenian financial system has always been highly appreciated. Moreover, the bank’s activity in Armenia is assessed as a “success story”. In addition, HSBC Armenia bank has applied to the Armenian Central Bank – as the regulating body – to register a new director, who will assume office from March,” the cenbank said in a statement.

Edited and translated by Stepan Kocharyan