HSBC Bank Armenia Secures Highest Level of Assets on July 1 2007

HSBC Bank Armenia Secures Highest Level of Assets on July 1 2007

arminfo
2007-07-06 17:58:00

HSBC Bank Armenia secures the highest level of assets – 80.995 bln AMD
or $237.6 mln – as of July 1 2007, HSBC Bank Armenia told Arminfo. The
indicator grew by 13.3% as compared to the same period of 2006 and by
1% over the first half of 2007.

The source reports that the total capital of the bank was increased to
9.368 bln AMD ($27.5 mln) on July 1 2007. The growth over the first
half of 2007 was 29.8% and 29% as compared to the same period of 2006.
HSBC Bank Armenia liabilities decreased by 1.9% over the first half of
2007 and by 11.5% as compared to the same period of 2006 and amounted
to 71.627 bln AMD or $210.1mln or $210.1 mln.

According to the data of the Ranking of Commercial Banks of Armenia
prepared by the Agency of Rating Marketing Information (ArmInfo), HSBC
Bank Armenia Assets totaled $221.6 mln on April 1 2007 (the 1st
position in the banking system of Armenia), liabilities totaled $198.6
mln (the 1st position), and total capital amounted to $22.9 mln (the 5t
position).