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IN 2011 HSBC BANK ARMENIA RECORDED THE BIGGEST NET PROFIT IN ARMENIA'S BANKING SECTOR
arminfo
Thursday, January 26, 16:48
In 2011 the assets of HSBC Bank Armenia grew by 23.5% to 179.1bln
AMD or $464.2mln (4th position in Armenia's banking system).
According to the bank's financial report, over 60% of the assets or
108.1bln AMD or $280.3mln were loans (4th position, 26% more than in
2010). Most of the loans were given to the economy (trade, industry,
SME), while most of the retail loans were mortgage loans.
The receivables from banks and other financial organizations (including
correspondent accounts) redoubled to 14.9bln AMD or $38.7mln (4th
position) - 8.3% of the assets. In financial investments the bank
was the 1st - 28.2bln AMD or $73.1mln (15.7% of the assets).
The liabilities grew by 23.7% to 148.7bln AMD or $385.6mln
(4th position), wherein the payables to banks and other financial
organizations redoubled to 16% while the payables to customers (call
and time deposits) grew by 14.4% to 80.6% of the total liabilities.
The capital grew by 22.7% to 30.3bln AMD or $78.6mln (5th position),
wherein the authorized capital did not change and made up 34.3%
while the accumulated profit grew by 38.2% to 62%.
The net profit was the biggest in the sector - 6.6bln AMD or $17.2mln.
HSBC Bank Armenia has six branches in Yerevan. The shareholders are
HSBC Europe B.V. (70%) and Wings Establishment (30%),
From: Baghdasarian
arminfo
Thursday, January 26, 16:48
In 2011 the assets of HSBC Bank Armenia grew by 23.5% to 179.1bln
AMD or $464.2mln (4th position in Armenia's banking system).
According to the bank's financial report, over 60% of the assets or
108.1bln AMD or $280.3mln were loans (4th position, 26% more than in
2010). Most of the loans were given to the economy (trade, industry,
SME), while most of the retail loans were mortgage loans.
The receivables from banks and other financial organizations (including
correspondent accounts) redoubled to 14.9bln AMD or $38.7mln (4th
position) - 8.3% of the assets. In financial investments the bank
was the 1st - 28.2bln AMD or $73.1mln (15.7% of the assets).
The liabilities grew by 23.7% to 148.7bln AMD or $385.6mln
(4th position), wherein the payables to banks and other financial
organizations redoubled to 16% while the payables to customers (call
and time deposits) grew by 14.4% to 80.6% of the total liabilities.
The capital grew by 22.7% to 30.3bln AMD or $78.6mln (5th position),
wherein the authorized capital did not change and made up 34.3%
while the accumulated profit grew by 38.2% to 62%.
The net profit was the biggest in the sector - 6.6bln AMD or $17.2mln.
HSBC Bank Armenia has six branches in Yerevan. The shareholders are
HSBC Europe B.V. (70%) and Wings Establishment (30%),
From: Baghdasarian