“Ardshinbank” has acquired the Armenian branch of HSBC bank
After a 10-month deal, Ardshinbank CJSC has announced that it has acquired 100% of the shares of HSBC Armenia Bank. The bank has been renamed Ardshininvestbank CJSC.
At the beginning of the year, the British HSBC put its business in Armenia up for sale to allocate its capital in other directions. Ardshinbank CJSC reached an agreement with HSBC Europe B.V. for the acquisition of the bank.
Customer accounts have been preserved, and the cards have been converted from the previous ATM cards to debit cards.
Ardshinbank has stated that customers will continue to be served under the previous terms and service offerings.
Ardshinbank is the 4th largest taxpayer bank in Armenia.