Central Bank of Armenia has issued an official statement today in response to the report by Reuters of January 29 that HSBC is reconsidering its activity in Armenia.

“The importance of presence and involvement of HSBC in Armenia’s financial system is consistently underlined during the meetings between the Chairman of the Central Bank and the management of HSBC. Moreover, its operation in Armenia is considered a success story.


It should be noted that HSBC Armenia has applied to the Central Bank as the regulator regarding the appointment of a new chief executive officer, who will start working in March,” reads the Central Bank statement.

Reuters reported that HSBC wanted to sell its business in Turkey “amid concerns about the country’s volatile currency and economic outlook”. The report also adds that HSBC considered selling or shrinking its businesses in Armenia, Greece and Oman.