HSBC Bank Armenia CJSC resumes mortgage lending in AMD to individuals

December 17, 2009 - 15:41 AMT
PanARMENIAN.Net - HSBC Bank Armenia announced that it has re-launched lending in AMD to personal customers, effective November 2009 under the re-financing agreement signed with National Mortgage Fund, the bank's press office reported.



The funds will be directed to provide residential property mortgage and renovation loans to Armenian citizens and permanent residents. The bank never stopped lending to individuals in USD and to legal entities.



The restart of AMD lending was mainly driven by the availability of funding from National Mortgage Fund, strict conditions of the agreement allowing lending at minimum risk for the bank, as well as the improving tendency of economic conditions and demand for mortgage loans in the market.



HSBC Bank Armenia is now also actively seeking to provide credit card lending to personal customers requiring convenient access to funds on a flexible and fluctuating basis. HSBC credit cards are widely accepted locally as well as in overseas countries.
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