HSBC: No sharp fluctuations in loan interest rates expected in Armenia

12.06.2012 17:25
HSBC: No sharp fluctuations in loan interest rates expected in Armenia

YEREVAN, June 12. /ARKA/. Astrid Clifford, CEO of HSBC Bank Armenia, said Tuesday the bank didn’t expect a sharp decline in loan interest rates.

She said that loan interest rates were going down throughout the past two years, and “today we have reached the level where we don’t expect sharp fluctuations”.

According to the central bank’s information, the average annual interest rate on loans dropped 0.4 percentage points in April, compared with March, to 15%.

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. -0--


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