Yerevan /Mediamax/. HSBC Bank Armenia is undertaking certain transactional processes in Trade Finance for HSBC Georgia.

“This represents part of its insourcing strategy and is consistent with making Armenia a Regional Service Centre”, Mediamax was told in HSBC Bank Armenia.

HSBC Bank Armenia Trade and Supply Chain experts, having the required experience
and qualifications, will undertake some important functions, starting with document checking, sending SWIFT messages, and at a later stage, processing of transactions on behalf of HSBC Georgia.

“We see this initiative as beneficial in many aspects for customers in Georgia, as well as the HSBC Group in both countries. We are reviewing similar initiatives in other areas of our respective businesses”, said Tim Slater, CEO of HSBC Bank Armenia.