HSBC BANK ARMENIA CJSC RESUMES MORTGAGE LENDING IN AMD TO INDIVIDUALS

/PanARMENIAN.Net/
17.12.2009 15:41 GMT+04:00

/PanARMENIAN.Net/ HSBC Bank Armenia announced that it has re-launched
lending in AMD to personal customers, effective November 2009 under
the re-financing agreement signed with National Mortgage Fund, the
bank’s press office reported.

The funds will be directed to provide residential property mortgage
and renovation loans to Armenian citizens and permanent residents. The
bank never stopped lending to individuals in USD and to legal entities.

The restart of AMD lending was mainly driven by the availability
of funding from National Mortgage Fund, strict conditions of the
agreement allowing lending at minimum risk for the bank, as well as
the improving tendency of economic conditions and demand for mortgage
loans in the market.

HSBC Bank Armenia is now also actively seeking to provide credit card
lending to personal customers requiring convenient access to funds
on a flexible and fluctuating basis. HSBC credit cards are widely
accepted locally as well as in overseas countries.