Tuesday, June 29 2010 15:13

"HSBC Bank Armenia" to increase mortgage portfolio by $10 mln by the end of 2010


Arminfo. "HSBC Bank Armenia" is going to increase mortgage portfolio by $10 mln by the end of 2010, which was $45 mln at the beginning of June, executive director of HSBC Bank Armenia Astrid Clifford said today.

She also added that at present the bank chiefly delivers the dram and dollar credits to buy and repair house, including within the frames of refinancing by the "National mortgage company". She said that the bank gives credits within the frames of the card projects. As for the car crediting, in case of the dram funds increasing in the bank, it will resume giving of the car credits, she said and added that the credit portfolio of the bank grew by 29% over almost six months of the current year. Such growth was provided chiefly thanks to financing of trade and small and medium-sized business.

According to the ranking of commercial banks of Armenia prepared by ArmInfo, as of 1 April 2010 the mortgage credits portfolio of "HSBC Bank Armenia" amounted to 17.6 bln drams.
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