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.\u00a0\u00a0<\/p>\n
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.<\/p>\n
The credit portfolio of HSBC Bank Armenia amounted to AMD 67.3 billion in Jan-March 2010.
\nThe bank has sent AMD 67 billion to the residence economy.<\/p>\n
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).
\nThe share of mortgage loans in the bank\u2019s credit portfolio is 26.2% (AMD 17.6 billion, 4.2% decline), consumer loans\u2019 10.7% (AMD 7.2 billion, 11% reduction).<\/p>\n
Other loans make up 2.03% of the bank\u2019s credit portfolio (AMD 1.4 billion). HSBC Bank Armenia, subsidiary of HSBC Bank Plc, was registered on September 25, 1995.\u00a0 HSBC Bank Plc holds 70% of HSBC Bank Armenia shares. The remaining 30% belong to overseas Armenian investors.
\n\u00a0
\nIn January 2009, HSBC Bank Armenia became a member of NASDAQ OMX Armenia. The bank\u2019s assets totaled AMD 138.8 billion and liabilities 120.8 billion by late March.<\/p>\n
Its total capital amounted to AMD 18 billion and authorized capital AMD 7.6 billion.The bank\u2019s 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\u2014<\/p>\n","protected":false},"excerpt":{"rendered":"
HSBC Bank Armenia enlarges lending to small- and mid-scale businesses by 23% to $38 million<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[12632],"class_list":["post-12739","post","type-post","status-publish","format-standard","category-banks-en-en","category-news","tag-armenia-hsbc-bank-lending"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t