HSBC Bank Armenia plans significant increase in its loan portfolio in 2012

05.03.2012 15:30
HSBC Bank Armenia plans significant increase in its loan portfolio in 2012

YEREVAN, March 5. /ARKA/. HSBC Bank Armenia has planned a significant increase in its loan portfolio in 2012, Astrid Clifford, HSBC Bank Armenia Chief Executive Officer, told a news conference today. She said the outstanding loan portfolio of the bank stands currently at about $ 220 million. According to her, the lending to corporate customers rose last year by 34% or $100 million, and a similar growth is projected for this year.

She said also lending to individual customers grew to about $12 million in 2011, adding that the bank expects the lending to private customers to increase this year by $30 million. She said last year the total lending to individual customers rose to $50 million. According to Ms. Clifford, the bank provides loans to industry, commerce, real estate, etc. She said the share of delinquent loans last year was 3.7% versus 4.3% in 2010. 

According to her, the bank’s pre-tax profit totaled AMD 8.3bn, an increase of AMD 2.4bn or 40% compared with 2010. Total assets at 31 December 2011 were AMD 179bn, an increase of AMD 34bn or 23.5% compared with 2010. Also customer deposits increased by AMD 13bn or 14.4% to AMD 120bn at 31 December 2011. Dividends paid during 2011 totaled AMD 1.1bn. Paid taxes totaled AMD 2.9bn, a 145% increase year on year. Gross customer loans increased by 25.7% or AMD 22bn to AMD 108bn at 31 December 2011, with the corporate loan portfolio growing by 34% to AMD 86.5 bn.

HSBC Bank Armenia is a member of HSBC Bank plc. It was opened in Armenia in 1996 and is the first international bank in the country. Seventy percent of its shares are owned by HSBC Group and the remaining 30% by Diaspora Armenian investors. The Bank offers a variety of services to individuals and corporate customers. ($1 - 388.93 drams).--0--


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