HSBC Bank Armenia revenues totaled AMD 3.9 billion in January-September 2010.

“Given the dram devaluation, the profit markup is 30% while the net financial index is 200% compared to the same period in 2009. Credit investments increased 32%, amounting to AMD 83 billion against 63 billion last year,” said Irina Seylanyan, deputy CEO of HSBC Bank Armenia.

For her part, HSBC Bank Armenia CEO Astrid Clifford noted that a large number of banks suspended consumer lending due to AMD low liquidity and high credit risks.

“At the beginning of the year, we resumed lending to legal entities and mortgage lending for physical persons. AMD consumer lending will be resumed soon,” she said.