- The United Kingdom-based banking giant HSBC will exit Armenia, leaving the country with no Western commercial banks. Its local subsidiary will be acquired by Ardshinbank.
- The arrest of the CEO of Synergy, one of Armenia’s leading software companies, on corruption charges has rocked the country’s tech scene, which has warned the development may damage Armenia’s attractiveness to foreign investors.
The post Armenia’s only Western bank to exit the country: THIS WEEK IN BUSINESS appeared first on CIVILNET.