Yerevan /Mediamax/. Termination of HSBC’s activity in Georgia will not have any impact on “HSBC Bank Armenia”, Mediamax was told in the Armenian bank’s press service today.

According to the report disseminated by \'\'HSBC Bank Georgia\'\', as a result of the change in the banking group’s global strategy it was decided to terminate the bank’s activity in Georgia by early 2012.

On August1, 2011, HSBC Group announced lay-offs of 25 000 positions till 2013 and termination of its activity in 20 countries aiming to cut off expenses. “HSBC Bank Armenia” Marketing Manager Mariam Adamyan informed Mediamax in August that Armenia would not be involved into the optimization process.

Consequently, Armenia still remains to be the only country of HSBC’s presence in the Southern Caucasus.