Liabilities of HSBC Bank Armenia grow 14.8% to amd 122.1 billion

25.12.2009 21:01
Liabilities of HSBC Bank Armenia grow 14.8% to amd 122.1 billion

YEREVAN, December 25. /ARKA/. Liabilities of HSBC Bank Armenia have grown 14.8% for nine months of this year to AMD 122.1 billion.

ARKA News Agency’s analysis shows that the bank’s liabilities are largest in Armenian banking system.

The constitute 12.21% of Armenian banks’ aggregate liabilities.

The bank’s liabilities toward clients amounted to AMD 107.6 billion in Jan-Sept 2009 – their share in the bank’s total liabilities was 88.1%.

HSBC Bank Armenia is the second biggest asset holder among Armenian banks.

Its assets totalled AMD 138.6 billion by late September after growing 13.7% since the beginning of the year.

They make up 10.9% of Armenian banks’ aggregate assets.

The loans extended by HSBC Bank Armenia to clients totaled AMD 66.8 billion by late September.

The bank is the second biggest lender in Armenian banking system.

Loans extended to private companies constitute 56.2% of the bank’s credit portfolio.

HSBC Bank Armenia is also the second largest investor in securities.

It invested AMD 9.2 billion in securities.

ARKA News Agency’s analysis also shows that the bank’s undistributed profit for Jan-Sept 2009 totaled AMD 1 billion after reducing 64% from AMD 2.8 billion at the same period a year before.

The bank came fourth on this indicator in ARKA News Agency’s ranking.

HSBC Bank Armenia ranked fifth for its total capital – AMD16.5 billion, which grew 11.1% from the beginning of this year.

The bank’s authorized capital grew as well.

It grew 210% or by AMD 5.1 billion in Jan-Sept 2009.

The bank has spent AMD 1.7 billion for the period between January and September 2009 for paying salaries.

These expenses reduced 7.6% or by AMD 141 million, compared with the same a year earlier.

The bank was placed third in ARKA News Agency’s ranking for this indicator.

HSBC Bank Armenia spent AMD 41.8 million for training its personnel, and AMD 114,900 on average for training one agent.

The bank ranked second for training expenses.

HSBC Bank Armenia, subsidiary of HSBC Bank Plc, was registered on September 25, 1995.

HSBC Europe BV holds 70% of HSBC Bank Armenia shares. The remaining 30% belong to Wings Establishment.

The bank has seven branches and 364 employees.

The Banker magazine announced HSBC Bank Armenia the best bank of Armenia in 2009. ($1 = AMD 375.80). M.V. –0-


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