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.
