On August 27, the Board of the Central Bank of Armenia approved Ardshinbank CJSC’s acquisition of a controlling stake in HSBC Bank Armenia CJSC. Ardshinbank will purchase 75% or more of the share capital of HSBC Bank Armenia. This follows an earlier approval by the Armenian Competition Protection Commission on June 12, ensuring that the merger will not adversely affect market competition or consumer interests. Ardshinbank plans to acquire 100% of HSBC Bank Armenia’s shares from HSBC Europe BV. HSBC Bank Armenia explained the sale as a step towards reallocating capital to global priorities. At the end of 2023, HSBC Bank Armenia reported profits of 11.05 billion AMD (over $25 million), while Ardshinbank held leading positions in several banking metrics, including assets, liabilities, total capital, and loan investments.
Banking, Financial Services,Armenia, Europe
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