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HSBC LEFT GEORGIAN MARKET DUE TO UNFRIENDLY ATTITUDE - GAIOZ SANADZE
NEWS.AM
June 29, 2012 | 16:13
HSBC bank's leaving the Georgian marker is most likely conditioned by
unfriendly attitude of the regulator (central bank) and the Georgian
government, Georgia's Central Securities Depository General Director
Gaioz Sanadze told Armenian News-NEWS.am correspondent.
Sanadze was a participant of the joint discussions on Armenian-Georgian
financial markets being held in Armenia's Dilijan city.
"They used to work under different conditions, while this time it was
decided to protect the national structure, and not an international
organization which has entered the Georgian market. Probably they were
offended not getting the opportunities and support that is given to
local banks," he said.
Sanadze considers in any case withdrawal of HSBC had to be an issue
of concern for the Georgian central bank.
After a three-year work in Georgia, HSBC announced it is leaving the
market in 2011. Many Georgian analysts have linked it to the Armenian
origin of one of the owners of HSBC Georgia (30% of the shares owned
by the Armenian Diaspora businessman Vache Manukyan).
From: Baghdasarian
NEWS.AM
June 29, 2012 | 16:13
HSBC bank's leaving the Georgian marker is most likely conditioned by
unfriendly attitude of the regulator (central bank) and the Georgian
government, Georgia's Central Securities Depository General Director
Gaioz Sanadze told Armenian News-NEWS.am correspondent.
Sanadze was a participant of the joint discussions on Armenian-Georgian
financial markets being held in Armenia's Dilijan city.
"They used to work under different conditions, while this time it was
decided to protect the national structure, and not an international
organization which has entered the Georgian market. Probably they were
offended not getting the opportunities and support that is given to
local banks," he said.
Sanadze considers in any case withdrawal of HSBC had to be an issue
of concern for the Georgian central bank.
After a three-year work in Georgia, HSBC announced it is leaving the
market in 2011. Many Georgian analysts have linked it to the Armenian
origin of one of the owners of HSBC Georgia (30% of the shares owned
by the Armenian Diaspora businessman Vache Manukyan).
From: Baghdasarian