HSBC Bank Armenia awarded today its five Best Trade customers of 2016.

According to HSBC Bank Armenia Chief Executive Officer Thies Clemenz, these five companies have performed impressively throughout 2015, demonstrated growth, international connectivity, outstanding loyalty or introduced innovative technologies.

“In seven year time HSBC Trade Awards have become a benchmark for performance in Armenia’s trade finance industry, as we continued to appreciate the market leaders in the spheres that they operate,” said Thies Clemenz.

He observed that geographic reach of HSBC network allows HSBC Armenia to provide services to clients on both sides of a transaction.

“We can help them overcome obstacles and manage risk and liquidity costs more effectively. HSBC Armenia trade specialists are uniquely positioned to be the bridge between customers around the world,” stressed Thies Clemenz.

HSBC Bank Armenia Deputy Head of Banking Arthur Petrosyan noticed that the bank holds leadership on trade finance market in Armenia and gained long-term experience in cooperation with numerous customers.

“HSBC Bank Armenia has been a pioneer of trade finance on Armenian market. We were the first to present our tools, which have over 20 years of work in Armenia and our clients’ success to testify for their efficiency,” stressed Arthur Petrosyan.

According to him, the bank continuously implements innovative solutions in trade finance, available to all corporative clients.

Arthur Petrosyan stated that based on development level of financial and non-financial infrastructure in Armenia, the most used trade finance tools in the country are circular notes, bank vouchers and collections, depending on the degree of risk of the deal and partners’ acquaintance.

Redinet CJSC received Best Trade Customer – Best Innovative Trade Award. The company implemented energy efficiency projects in Armenia, financed by HSBC Armenia.

Best Trade Customer – International Trade Award went to AES TRADE LLC, which had succeeded in reducing production costs by using HSBC trade finance solutions.

HKG CJSC received Best Trade Customer – Best Newcomer Trade Award. The company began cooperation with HSBC in 2015 in scope of financing import of the production equipment required for the brewery in Dilijan.

Best Trade Customer – CEO’s Special Award was given to ARPANIV LLC, which has demonstrated growth by expanding the business to other markets with further potential, owing to cooperation with HSBC Armenia.

Best Trade Customer – Grand Prix went to ASCE Group OJSC. With the support of the bank, the company importsa new metal processing production line from The Netherlands.