YEREVAN, August 12. /ARKA/. HSBC Bank Armenia announced its financial results for the first half of 2011. Pre-tax profit increased to AMD 3.5 billion, a 48% increase compared to the same period of 2010.

Total assets of the bank as of December 31, 2010 increased by 7%, amounting to 155 billion drams. Gross customer loans increased by 6% to AMD 91 billion, with credit portfolio being AMD 69 billion. Customer deposits increased by 4% to AMD 109 billion as of June 30, 2011.

In the reporting period HSBC Bank Armenia conducted a number of important events and services, including implementation of transfers and payments on foreign trade for legal entities in Chinese yuans, 15th Anniversary Celebrations of HSBC Bank Armenia and launch of unallocated gold metal account services.

Together with 30 leading companies of Europe HSBC Bank Armenia participated in a "Trade Connections" event in Shanghai.

HSBC allowed the Armenian companies to participate in the European Business Awards. Three companies from Armenia (HSBC Bank Armenia customers) have been recognized as winners and awarded with a “Ruban d'Honneur” prize.

HSBC Bank Armenia cjsc is the member of the group of “HSBC Bank plc” registered on September 25, 1995. The holding company “HSBC Europe BV” possesses 70% of portfolio of shares of HSBC Bank Armenia and 30% belongs to “Wings Establishment”.Since the end of January 2009, CJSC “HSBC Bank Armenia” is the member of NASDAQ OMX Armenia. ($ - 368.52 drams). —0--