HSBC bank Armenia’s intermediary payments from trade financing rise by 26% to 208 million drams

05 October, 2011

HSBC Bank Armenia’s intermediary payments from trade financing transactions rose by 26% in the third quarter of 2011 from a year earlier to 208 million drams, Aram Pinadzhian, HSBC Bank Armenia head of Commerce and Credit Department said today.

According to him, the growth was mainly due to increased transactions with letters of credit in international trade (imports/exports) by 33% to 114 million drams, a 16% rise in bank guarantees transactions and a 28% growth in collection.

“It’s quite large progress, and it shows the extent of importance HSBC Bank Armenia attaches to financing and this is also appreciated by HSBC Group”, said Pinadjyan.

He said the bank has been organizing for the second successive year training courses for its clients. Last year it held four such courses for 150 customers about the benefits of trade financing.

ARKA

Last updated on: 15/11/2011 14:00