HSBC bank Armenia opens two new branches

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06.09.2007, 04:27

HSBC Bank Armenia opens two new branches. The official opening ceremony will be held in the bank’s headoffice on September 15, the bank’s administration reported.

YEREVAN, September 5. /ARKA/. HSBC Bank Armenia opens two new branches. The official opening ceremony will be held in the bank’s headoffice on September 15, the bank’s administration reported.

Among the participants of the presentation will be member of Board of HSBC Holdings plc David Badd who was the first executive director of HSBC Bank Armenia CJSC. Complete package of information about financial and other activities of the bank will be presented at the press conference.

HSBC Bank Armenia CJSC (daughter enterprise of HSBC Bank plc) was registered on September 25 1995. HSBC Bank plc owns 70% of the shares of HSBC Bank Armenia and is the daughter enterprise of HSBC Holdings plc. The remaining 30% belong to foreign Armenian investors. As of June 30 2007, the bank’s assets totaled AMD81bln, with total capital making AMD9.4bln, balance profit AMD 6.4bln, profit for January-June 2007 AMD 1.9bln. Currently, the bank has four branches. ($1 = AMD336.83). N.V. –0--

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