YEREVAN, June 29. /ARKA/. HSBC Bank Armenia has enlarged lending to small- and mid-scale businesses since the beginning of this year by 23% to $38 million, Astrid Klifford, executive director general of HSBC Bank Armenia CJSC, said on Tuesday.
She told journalists that the bank will remain stuck to its traditional policy in lending money, but concentrating its focus on international trade and small and mid-scale businesses.
The credit portfolio of HSBC Bank Armenia amounted to AMD 67.3 billion in Jan-March 2010.
The bank has sent AMD 67 billion to the residence economy.
Of this amount, 34.1% or about AMD 23 billion has been lent to trade sector (23.5% growth since late December 2009), 17.9% or AMD 12 billion to industry (7.2% growth), 3.42% or AMD 2.3 billion to construction (10.2% reduction), 3.35% or AMD 2.3 billion to catering and services sectors (21.5% growth), 0.7% or AMD 441.5 million to agriculture (38.4% growth), 0.2% or AMD 128.5 million (20.4% fall).
The share of mortgage loans in the bank’s credit portfolio is 26.2% (AMD 17.6 billion, 4.2% decline), consumer loans’ 10.7% (AMD 7.2 billion, 11% reduction).
Other loans make up 2.03% of the bank’s credit portfolio (AMD 1.4 billion). HSBC Bank Armenia, subsidiary of HSBC Bank Plc, was registered on September 25, 1995. HSBC Bank Plc holds 70% of HSBC Bank Armenia shares. The remaining 30% belong to overseas Armenian investors.
In January 2009, HSBC Bank Armenia became a member of NASDAQ OMX Armenia. The bank’s assets totaled AMD 138.8 billion and liabilities 120.8 billion by late March.
Its total capital amounted to AMD 18 billion and authorized capital AMD 7.6 billion.The bank’s liabilities to clients reached AMD 113.1 billion, and net profit for Jan-March 2010 amounted to AMD 934.5 million. ($1 = AMD 368.74).-0—
