This was the first international bank in the country after the Armenian restoration of independence from the Soviet Union, aiming to bolster confidence in Armenia's financial sector and attract foreign investment.

Initially, HSBC held a 70% ownership stake, with the remaining 30% owned by members of the overseas Armenian business community.

[1] In 2023, HSBC Bank Armenia reported a net profit exceeding 11 billion Armenian drams, served approximately 33,000 customers through 10 offices located in Yerevan and operated 55 ATM machines.

[1][2] In early 2024, HSBC announced its decision to exit the Armenian market after nearly three decades of operation.

The bank agreed to sell its subsidiary to Ardshinbank, one of Armenia's leading banks, as part of a strategy to reallocate capital from less strategic or low-growth businesses to areas with higher growth potential globally.