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HSBC BANK ARMENIA COVERS 38 PERCENT OF THE TRADE FINANCE MARKET
ARMINFO
Tuesday, August 28, 11:35
Over the first half of 2012, the net profit of HSBC Bank Armenia
totalled AMD 3.5 billion, an AMD 765 million or 28 percent increase
over the same period in 2011, thus ensuring the highest net profit
in the market. The press service of the Bank told ArmInfo that total
assets at 30 June 2012 were up by 10 percent compared to 31 December
2011 amounting to AMD 198 billion.
Gross customer loans increased by 15 percent or AMD 16 billion to
AMD 124 billion at 30 June 2012, with the corporate loan portfolio
growing by 17 percent to AMD 103 billion.
Customer deposits increased to AMD 128 billion, a six percent increase
over 31 December 2011, comprising the largest market share. Personal
deposits increased by 10 percent or AMD 8 billion to AMD 92 billion,
again comprising the largest market share.
The outstanding balance of Trade Finance products volumes totalled
AMD 10 billion, a 27 percent compared to 31 December 2011, comprising
38 percent of the trade finance market share.
The achievements, awards and rankings of the Bank are as follows:
Introduction of new products and services: Personal secured loans for
individuals; Card insurance service protecting ATM and MasterCard
international card users from certain risks; "HSBC Plus" packaged
solution for individuals, (March - April 2012).
Branch expansion: A new dedicated "STATUS" branch was opened in
0Yerevan, (May 2012).
Awards: Global Finance Magazine recognized HSBC Bank Armenia as the
Bank Armenia that has won its World's Best Bank awards most often
over the past 16 years (May-June 2012 issue).
Leading bank for international business in Armenia: The third annual
Trade Award ceremony was held, where the Bank's Best Trade Customers
of 2011 were announced. One customer participated in an HSBC Trade
Connection Summit held in Brazil (June 2012).
"During the first six months of 2012 we have made tangible progress
in a number of key areas and registered strong financial results. The
successful implementation of our strategy and priorities will hopefully
deliver continued growth during the rest of the year", - HSBC Bank
Armenia Chief Executive Officer Astrid Clifford said.
HSBC Bank Armenia cjsc was the first international bank to open in
Armenia in 1996. The bank 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. Thanks to the HSBC network in 85 countries and territories,
the bank is uniquely positioned to provide truly international services
to its customers.
The Yerevan office opened with 18 staff and under 100 clients. HSBC
Bank Armenia cjsc today has more than 33 thousand individual and
five thousand corporate customers and employs 387 employees at nine
branches and offices in Yerevan. The bank has one of the largest
networks of more than 50 ATMs located throughout Yerevan. HSBC in
Armenia has grown assets from five million US dollars in 1996 to just
480 million US dollars today.
ARMINFO
Tuesday, August 28, 11:35
Over the first half of 2012, the net profit of HSBC Bank Armenia
totalled AMD 3.5 billion, an AMD 765 million or 28 percent increase
over the same period in 2011, thus ensuring the highest net profit
in the market. The press service of the Bank told ArmInfo that total
assets at 30 June 2012 were up by 10 percent compared to 31 December
2011 amounting to AMD 198 billion.
Gross customer loans increased by 15 percent or AMD 16 billion to
AMD 124 billion at 30 June 2012, with the corporate loan portfolio
growing by 17 percent to AMD 103 billion.
Customer deposits increased to AMD 128 billion, a six percent increase
over 31 December 2011, comprising the largest market share. Personal
deposits increased by 10 percent or AMD 8 billion to AMD 92 billion,
again comprising the largest market share.
The outstanding balance of Trade Finance products volumes totalled
AMD 10 billion, a 27 percent compared to 31 December 2011, comprising
38 percent of the trade finance market share.
The achievements, awards and rankings of the Bank are as follows:
Introduction of new products and services: Personal secured loans for
individuals; Card insurance service protecting ATM and MasterCard
international card users from certain risks; "HSBC Plus" packaged
solution for individuals, (March - April 2012).
Branch expansion: A new dedicated "STATUS" branch was opened in
0Yerevan, (May 2012).
Awards: Global Finance Magazine recognized HSBC Bank Armenia as the
Bank Armenia that has won its World's Best Bank awards most often
over the past 16 years (May-June 2012 issue).
Leading bank for international business in Armenia: The third annual
Trade Award ceremony was held, where the Bank's Best Trade Customers
of 2011 were announced. One customer participated in an HSBC Trade
Connection Summit held in Brazil (June 2012).
"During the first six months of 2012 we have made tangible progress
in a number of key areas and registered strong financial results. The
successful implementation of our strategy and priorities will hopefully
deliver continued growth during the rest of the year", - HSBC Bank
Armenia Chief Executive Officer Astrid Clifford said.
HSBC Bank Armenia cjsc was the first international bank to open in
Armenia in 1996. The bank 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. Thanks to the HSBC network in 85 countries and territories,
the bank is uniquely positioned to provide truly international services
to its customers.
The Yerevan office opened with 18 staff and under 100 clients. HSBC
Bank Armenia cjsc today has more than 33 thousand individual and
five thousand corporate customers and employs 387 employees at nine
branches and offices in Yerevan. The bank has one of the largest
networks of more than 50 ATMs located throughout Yerevan. HSBC in
Armenia has grown assets from five million US dollars in 1996 to just
480 million US dollars today.