HSBC Bank Armenia profit this year exceeds that of previous year by 50%

23.11.2011 12:26
HSBC Bank Armenia profit this year exceeds that of previous year by 50%

YEREVAN, November 22. /ARKA/. The profit HSBC Bank Armenia has gained since the beginning of this year is 50% larger than that of the same period a year before, HSBC Bank Armenia CEO Astrid Clifford said Tuesday answering ARKA News Agency’s question.

According to ARKA News Agency’s data, the bank’s net profit for the first nine months of this year amounts to AMD 4.6 billion.

Clifford told journalists that as a rule, the fourth quarter is more efficient than the previous quarters. That is why, she said, the bank is expected to end this year with good financial indicators.

She, however, refrained from forecasting the banks’ yearend financial indicators.

Speaking about new investment programs for the next year, Clifford said that the bank planned to open two new branches in Yerevan, but didn’t reveal details.

She said that the bank was implementing a number of large projects on debit cards and installation of cash-accepting terminals.

HSBC Bank Armenia, a member of HSBC Bank plc, was registered on September 25, 1995. HSBC Europe BV holding company holds 70% of the bank’s shares, and the remaining 30% belong to Wings Establishment. In late January 2009, HSBC Bank Armenia joined NASDAQ OMX Armenia Stock Exchange. ($1- AMD 384.32). -0-


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