YEREVAN, August 27. /ARKA/. HSBC Bank Armenia said its net profit in the first half of the year totaled AMD 3.5 billion, increasing by AMD 765 million or 28 % as compared to the same period of 2011. By size of net profit the bank was the leader in the first six months. As of June 30, total assets grew by 10 % compared to December 31, 2011 amounting to AMD 198 billion, the bank’s press service reported.

Gross customer loans increased by 15 percent or AMD 16 billion to AMD 124 billion on June 30, with the corporate loan portfolio growing by 17 percent to AMD 103 billion.

Customer deposits grossed AMD 128 billion, with 6% increase recorded, thus comprising the largest market share. Personal deposits grew by 10% or AMD 8 billion to AMD 92 billion, again making up the largest market share.

“Tangible progress was recorded in a number of key areas and strong financial results were registered in the first six months of 2012. The successful implementation of our strategy and priorities will hopefully deliver continued growth during the rest of the year,” HSBC Bank Armenia Chief Executive Officer Astrid Clifford was quoted as saying.

HSBC Bank Armenia is a member of HSBC Bank plc. It was registered in Armenia in 1995. Some 70% of its is owned by HSBC Europe BV and 30% belong to Wings Establishment. -0-