Tuesday, June 29 2010 15:10
"HSBC Bank Armenia" increases by 23% SMB credit portfolio for almost six months of 2010
Arminfo. "HSBC Bank Armenia" has increased SMB credit portfolio by 23% up to $38 mln for almost six months of 2010, executive director of the bank Astrid Clifford told Arminfo correspondent at the event dedicated to opening of the Trade Financing Academy jointly with SMEDNC.
She also added that HSBC opened similar academies in england, France and Georgia jointly with the state sector. She said that over 15 years of working in Armenia they have always supporting trade financing and still continue developing this direction. Opening of the Academy is evidence of it. Armenian businessmen will be trained in the Academy free of charge, and experts of the trade financing department of "HSBC Bank Armenia" will teach them, she said and added that later international trade experts from HSBC banks as well as high quality specialists will be invited to teach in the Academy and share the 140-year old experience of HSBC bank at the world markets.
As executive director of SMEDNC Karen Gevorkyan said at the event, the "HSBC Bank Armenia" and SMEDNC customers took part in the first seminar of the Academy. He also added that the Academy will hold 3 seminars monthly. "The activity of the academy is directed to supporting of the functioning import and export oriented companies for the maximal using of potential for successful trade, the result of which will be obvious over the coming months", - Gevorkyan assured.
According to the Ranking of commercial banks prepared by ArmInfo, as of 1 April 2010 "HSBC Bank Armenia" occupied the second position in the banking system of Armenia by the size of credit portfolio which was 83 bln drams (3,8% growth since the beginning of the year and 8,9% growth as against the 1Q 2009).
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