Thursday, November 18 2010 18:59
HSBC Bank Armenia CEO: A lot of our success has been due to the fact that we have been very active in commercial lending
ArmInfo. A lot of our success has been due to the fact that we have been very active in commercial lending, Astrid Clifford, Chief Executive Officer of HSBC Bank Armenia CJSC, said in an interview to Arminfo.
"We have lent nearly $80 million to companies of all sizes this year, which is the highest amount of all local banks. We also continue to hold the largest share of customer deposits," Clifford said.
According to the Ranking of Commercial Banks of Armenia prepared by the Agency of Rating Marketing Information (ArmInfo), Oct 1 2010 the assets of HSBC Bank Armenia totaled 127.8bln AMD (3rd rank), of which 70% were loans (3rd rank).
In the loan book the economy received 70%: trade got 27.5%, industry – 19.4%, construction - 11.8%, 5.9% - services. In Jan-Sept 2010 the lending of construction grew by 5 times, services – by 2 times, industry - by 52%, agriculture – by 86%, trade – by 31%. In Jan-Sept 2010 the net profit of the bank totaled 3bln AMD (2nd rank). ROE was 15.9% (2nd rank), ROA – 2.3% (7th rank).
The shareholders of HSBC Bank Armenia are HSBC Europe B.V. (70%) and Wings Establishment (30%).
RUB
USD
EUR
GBP
CAD
JPY
CNY
CHF
Active consumer lending causes double-digit growth in bad loans 
Luys Foundation: Armenian government continues to face challenges in budget planning
Armenia`s brandy and winemaking industry in crisis - economist 
Even at embryonic stage, powerful impetus given to economic activity in energy sector - ENA acting manager 
Armenian NA OKs ENA nationalization 
China preparing to open new chapter of One Belt, One Road initiative with involvement of Armenia - diplomat 
The Merger between "Ardshinbank" CJSC and "Ardshininvestbank" CJSC Has Been Completed
Ticket packets 1.2% of total number of transport tickets in Yerevan