YEREVAN, November 18. /ARKA/. HSBC Bank Armenia increased the size of its corporate loan book by AMD24.5Bn in the first 9 months of this year, the bank’s pres office reports.
This represented a 66% increase in the size of the commercial loan book, to AMD61.6Bn as at 30 September 2010.
According to the press release, this was the highest growth in commercial lending recorded by any bank, and comprised 24% of the total increase in the market.
“This is a major achievement and has been driven by the increased opportunities for quality lending in Armenia and the excellent service provided by our relationship managers. We hope to maintain this strong position during the remaining months of 2010 as well as next year.” said Astrid B Clifford, Chief Executive Officer of HSBC Bank Armenia cjsc.
According to “ARKA” database, loans provided to corporate customers by Ameria bank (including the former loan porfolio of Cascade bank) – 76,1 billion drams, by HSBC Bank Armenia comprise 61.6 billion drams, by Armbusiness bank – 61,2 billion drams, by Unibank – 47,5 billion drams and by VTB bank (Armenia) – 40,4 billion drams.
HSBC Bank Armenia, subsidiary of HSBC Bank Plc, was registered on September 25, 1995.
HSBC Europe BV holds 70% of HSBC Bank Armenia shares. The remaining 30% belong to Wings Establishment.
In late January 2009, HSBC Bank Armenia became a member of NASDAQ OMX Armenia Stock Exchange. ($1 = AMD 361.38).-0—
