HSBC Bank Armenia has been named Best Bank in Armenia at this year's EUROMONEY Awards for Excellence.

HSBC Group also received four global awards as well as twenty regional and country awards in different categories. The award ceremony took place in London on 11 July, the bank informs.

“HSBC trounced its larger rivals in Armenia, giving the sector’s best pre-tax and return on equity result.  The corporate franchise remained the primary driver of expansion, but HSBC also gained ground in the valuable premium retail sector”, Euromoney mentioned.

 “It is a great privilege to receive this award for the second time, which is testimony to another successful year of HSBC in Armenia. We are committed to supporting the growth of Armenia’s economy and banking sector by playing a leading role in this industry”, Thies Clemenz, HSBC Bank Armenia Chief Executive Officer, commented.