Yerevan /Mediamax/. “HSBC Bank Armenia” CJSC was declared Bank of the Year in Armenia for 2009 by The Banker magazine.

As Mediamax was informed in the press service of the bank, the criteria for choosing the winners included banks’ financial performance, innovation, new initiatives and general strategy over the previous year.

Among the bank’s achievements which have been considered by The Banker was the 16.9 per cent rise in assets in 2008.

Tim Slater, Chief Executive Officer of “HSBC Bank Armenia”, noted that the bank continued its investments in technology and infrastructure and introduced internet and telephone banking services to Armenia. HSBC Bank Armenia now offers a full direct banking proposition and a choice of branch, ATM, telephone and internet banking for its customers.