HSBC Bank Armenia Does Not Plan To Cut Its Market Interest Rates
20.09.2011,
03:58
HSBC Bank Armenia does not plan to cut or raise its market interest rates, its Chief Executive Officer Astrid Clifford said today.
YEREVAN, September 19. / ARKA /. HSBC Bank Armenia does not plan to cut or raise its market interest rates, its Chief Executive Officer Astrid Clifford said today.
She said despite a weak trend in cutting interest rates for corporate clients the bank does not forecast any significant change. Astrid Clifford refrained from making forecasts about the amount of profits the bank may earn this year, but said that it saw already a 50% rise from 2010.
According to her, in view of seasonality the bank will show higher rates in the second half of the year than in the first half.
According to ARKA data, in the first half of 2011 HSBC Bank Armenia earned abut 2.8 billion drams in net profits, the second largest indicator in the baking sector.
HSBC Bank Armenia cjsc was the first international bank to open in Armenia in 1996. The bank is a joint venture between the HSBC Group, which has 70 percent ownership, and members of overseas Armenian businesses.
The bank offers a wide range of products and services to individual as well as corporate customers, including personal financial services, commercial banking and treasury and capital markets services. ($ 1 - 375.3 drams). –0—
She said despite a weak trend in cutting interest rates for corporate clients the bank does not forecast any significant change. Astrid Clifford refrained from making forecasts about the amount of profits the bank may earn this year, but said that it saw already a 50% rise from 2010.
According to her, in view of seasonality the bank will show higher rates in the second half of the year than in the first half.
According to ARKA data, in the first half of 2011 HSBC Bank Armenia earned abut 2.8 billion drams in net profits, the second largest indicator in the baking sector.
HSBC Bank Armenia cjsc was the first international bank to open in Armenia in 1996. The bank is a joint venture between the HSBC Group, which has 70 percent ownership, and members of overseas Armenian businesses.
The bank offers a wide range of products and services to individual as well as corporate customers, including personal financial services, commercial banking and treasury and capital markets services. ($ 1 - 375.3 drams). –0—
