HSBC Bank Armenia pre-tax profit totaled AMD5.9bn in 2010

18 March 2011

Celebrating its 15th anniversary, HSBC Bank Armenia cjsc has announced its 2010 financial highlights.

Pre-tax profit more than doubled to AMD5.9bn with 132% growth rate over the comparable figure for 2009. Total assets by December 31, 2010 were up 7% at AMD145bn. Gross customer loans increased by 31% to AMD86bn by December 31, 2010, with corporate loan portfolio being up by 67% to AMD65bn. Customer deposits decreased by 4% to AMD107bn by December 31, 2010.

According to Chief Financial Officer of HSBC Bank Armenia Gevorg Tarumyan, the pre-tax profit is one the best indices in the Armenian banking system.

In 2011, the Bank plans to improve the indices, specifically boosting loan volumes.

PanARMENIAN.Net

Last updated on: 01/04/2011 14:00