HSBC Armenia - Homepage
18 March 2011
HSBC Bank Armenia cjsc 2010 financial highlights and celebrating its 15th anniversary in Armenia
Financial highlights of 2010
- Pre-tax profit more than doubled to AMD5.9bn with 132% growth rate over the comparable figure for 2009.
- Total assets at 31 December 2010 were up 7%at AMD145bn.
- Gross customer loans increased by 31%to AMD86bn at 31 December 2010, with corporate loan portfolio being up by 67%to AMD65bn.
- Customer deposits decreased by 4%to AMD107bn at 31 December 2010.
Achievements, Awards and Rankings
- Launch of Trade Academy in partnership with National Center of Armenia (SME DNC), to provide training events and additional trade assistance for businesses looking to enhance their ability to grow their international trade business.
- Launch of the annual Trade Awards, to recognise success of companies that trade and invest internationally.
- Strategic partnership agreement with Cascade Insurance ICJSC to sell insurance products such as property insurance, motor insurance including CASCO and compulsory motor third party liability insurance, personal accident insurance, travel insurance and medical insurance.
- In Euromoney's Awards for Excellence 2010, HSBC Bank Armenia was recognised Best Bank in Armenia (July 2010).
- HSBC Bank Armenia cjsc was named the "Best Foreign Exchange Provider" in Armenia by Global Finance magazine (New York, Nov 2010).
Celebrating its 15th anniversary in Armenia
HSBC opened its doors for business in Armenia 15 years ago, on 16th March 1996, and today serves more than 40,000 customers in Armenia and abroad. To mark the anniversary the bank announced a free banking day on 16th March 2011, providing it’s customers with the privilege of enjoying a one day long charge free products and services.
Astrid Clifford, Chief Executive Officer of HSBC Bank Armenia cjsc, said: “Today the bank announces its 2010 financial results. HSBC Armenia has delivered good business during the year and celebrates its 15th anniversary in Armenia with record-breaking profits. We are well positioned in the market and have committed ourselves to expanding our business further in 2011.”
HSBC Group
On 28 February 2011 HSBC Holdings plc announced its 2010 annual results. HSBC’s universal banking model delivered profit in every customer group and region, including North America, for first time since 2006.
Strong financial performance
- Underlying pre-tax profit up by almost US$5bn or 36% to US$18.4bn.
- Pre-tax profit more than doubled to US$19bn on a reported basis.
- Profit attributable to shareholders rose to US$13.2bn (2009: US$5.8bn).
- Loan impairment charges down US$12.4bn to US$14bn, lowest since 2006.
- Earnings per share up 115% to US$0.73 (2009: US$0.34).
- Dividends declared in respect of 2010 totaled US$6.3bn, or US$0.36 per ordinary share, with a fourth interim dividend for 2010 of US$0.12 per ordinary share.
Media enquiries to: Mariam Adamyan on +374 10 51 50 88 or at:
mariamadamyan@hsbc.com
Notes to editors:
1. HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 8,000 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,455 billion at 31 December 2010, HSBC is one of the world’s largest banking and financial services organisations. HSBC is marketed worldwide as ‘the world’s local bank’.
2. HSBC Bank Armenia cjsc
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 87 countries and territories, the bank is uniquely positioned to provide truly international services to its customers.
HSBC Bank Armenia cjsc is one of the leading banks in the foreign exchange market. It has 7 branches and offices in Yerevan, as well as more than 50 ATMs covering the city. The Bank’s customers can enjoy a choice of branch, ATM, telephone and internet banking services.
As a socially responsible organization HSBC Bank Armenia continually invests into sustainability projects focusing on education for underprivileged groups and environment.
Last updated on: 22/03/2011 14:00
