HSBC Bank Armenia posts AMD 3.5 bln. net profit for 2012 first half

PanARMENIAN.Net - Net profit of HSBC Bank Armenia CJSC totaled AMD 3.5 billion in 2012 first half, increasing by AMD 765 million or 28 % as compared to the same period of 2011.

As of June 30, total assets grew by 10 % compared to December 31, 2011 amounting to AMD 198 billion, the bank’s press service reported.

Gross customer loans increased by 15 percent or AMD 16 billion to AMD 124 billion on June 30, with the corporate loan portfolio growing by 17 percent to AMD 103 billion.

Customer deposits grossed AMD 128 billion, with 6% increase recorded, thus comprising the largest market share. Personal deposits grew by 10% or AMD 8 billion to AMD 92 billion, again making up the largest market share.

“Tangible progress was recorded in a number of key areas and strong financial results were registered in the first six months of 2012. The successful implementation of our strategy and priorities will hopefully deliver continued growth during the rest of the year,” HSBC Bank Armenia Chief Executive Officer Astrid Clifford said.