HSBC Bank Armenia’s mortgage loans portfolio likely to grow to $55 million

Banks

YEREVAN, June 29, /ARKA/. HSBC Bank Armenia CEO, Astrid Clifford, said today the Bank’s mortgage loans portfolio is likely to grow to  $55 million by the end of the year from $45 million at the end of May.

Speaking at a news conference she said the Bank is extending mortgage loans in USD as well as loans in Drams as part of the National Mortgage Company.

HSBC Bank Armenia is a joint venture between the HSBC Group, which has 70 percent ownership, and members of overseas Armenian businesses. The bank offers a wide range of products and services to individual as well as corporate customers, including personal financial services, commercial banking and treasury and capital markets services. HSBC Bank Armenia cjsc has 9 branches and offices in Yerevan, as well as 50 ATMs located throughout the city. -0-

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