Yerevan/Mediamax/. “HSBC Bank Armenia” income in 2009 before tax payment made 2,6bln AMD, which is by 48% lower than the analogous index in 2008.

Mediamax informs, “HSBC Bank Armenia” Financial Director Gevorg Tarumyan announced this at the news conference as of 2009 today.

He said, the assets of the Bank in 2009 increased by 11,5%, making 136bln AMD. Gevorg Tarumyan stated bank loans reduction in 2009 by 10% (66bln AMD), explaining this fact by the influence of the global crisis on Armenian economy and consequently, by sampling ration of the Bank towards the debtors.

Financial Director of the Bank also noted that in 2009, 30% deposit growth was registered in the Bank, which reached 111bln AMD (the highest index in banking system of Armenia).

“HSBC Bank Armenia” General Director Astrid Clifford, while answering the question, concerning priority directions of the bank’s activity in 2010, stated that the Bank is going to activate loaning in all directions, highlighting International trade financing and attraction of Armenian Diaspora to cooperation. “We have already carried out a successful experiment in Russia, where Armenian Diaspora representatives were offered to open accounts in “HSBC Bank Armenia” and to make money transfers back and forth for free”, said Astrid Clifford. She also stated that in 2010 the Bank expects 10% growth of loan portfolio.

Turning to HSCB Group indices for 2009, published on March 1, Astrid Clifford stated that the banking group income before tax payments reduced, as compared to 2008 by 24% and made $7,1bln, the income after tax payment as compared to 2008, increased by 2% and made $5,8bln.