{"id":20962,"date":"2011-03-18T09:59:20","date_gmt":"2011-03-18T09:59:20","guid":{"rendered":"https:\/\/armbanks.am\/2011\/03\/18\/232570\/"},"modified":"2024-12-15T12:50:30","modified_gmt":"2024-12-15T12:50:30","slug":"hsbc-bank-armenias-profit-doubles-in-2010-to-amd-5-9-billion","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2011\/03\/18\/20962\/","title":{"rendered":"HSBC Bank Armenia\u2019s profit doubles in 2010 to AMD 5.9 billion"},"content":{"rendered":"

YEREVAN, March 18. \/ARKA\/.<\/strong> HSBC Bank Armenia CJSC\u2019s profit before taxation grew more than two times over 2010 reaching AMD 5.9 billion by late December, Gevorg Tarumyan, the bank\u2019s chief financial officer, said on Friday at a news conference dedicated to the 15th<\/sup> anniversary of the bank\u2019s activity in Armenia.<\/p>\n

\u201cThis is the best result in Armenian banking system,\u201d he said.<\/p>\n

Tarumyan said that the HSBC Bank Armenia also built up its assets by 7% to AMD 145 billion.<\/p>\n

The bank\u2019s loan portfolio grew 36% to 86 billion, and lending to individuals grew 67% in 2010, compared with the previous year.<\/p>\n

Lending to legal entities in the bank\u2019s loan portfolio amounted to AMD 65 billion in 2010, Tarumyan said.<\/p>\n

In his words, the bank wouldn\u2019t be able to reach such results without enlargement of the bank\u2019s capital by shareholders.<\/p>\n

\u201cTaking into account that the central bank tightened norms in 2010 and that we focused our efforts on enlargement of loan portfolio in Armenia, the bank\u2019s shareholders have eagerly built up our capital by AMD 2.9 billion or $8 million,\u201d he said.<\/p>\n

The bank\u2019s total capital amounted to AMD 24.7 billion in late December 2010.<\/p>\n

In 2010, the central Bank of Armenia decided to tighten its monetary policy and capital adequacy norms. The decision took force on April 14.<\/p>\n

HSBC Bank Armenia, subsidiary of HSBC Bank Plc, was opened in Armenia in 1996.<\/p>\n

HSBC Group holds 70% of HSBC Bank Armenia shares. The remaining 30% belong to Armenians living abroad. The bank provides a wide range of services to legal entities and individuals. It has eight branches and more than 50 ATMs.<\/p>\n

In late January 2009, HSBC Bank Armenia became a member of \u00a0NASDAQ OMX Armenia Stock Exchange. ($1 = AMD 369.62). -0-<\/p>\n","protected":false},"excerpt":{"rendered":"

HSBC Bank Armenia CJSC\u2019s profit before taxation grew more than two times over 2010 reaching AMD 5.9 billion by late December.<\/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":[15837,15480,459,12299],"class_list":{"0":"post-20962","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-banks-en-en","7":"category-news","8":"tag-armenia-2","9":"tag-hsbc-bank-armenia-2","10":"tag-hsbc--","11":"tag-profit"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/20962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=20962"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/20962\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=20962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=20962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=20962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}