At Least 3,000 People To Use Internet Banking Services Of HSBC Bank


September 15, 2009

Minimum 3,000 clients will be using Internet banking services of
HSBC Bank Armenia by the end of the year, CEO of HSBC Bank Armenia
Tim Slater said. Under favorable conditions the number of users is
to reach 5,000 people, he said.

Today 900 people take the advantage of the bank’s Internet
banking services. 6 million people use the service every day in 42
countries. Number of registered users reaches 14 million people.

The Internet banking service was introduced by the bank in the country
on July 1.

In July 2009, HSBC bank’s Internet banking services were recognized by
Global Finance magazine as the best ones in 42 countries, Slater said.

The new service gives clients an opportunity to use their accounts,
make transfers, open new time deposits 24 hours a day, 7 days a week,
Slater said.

The bank ensures the security of the service at several levels,
including through a security device that prevents a transaction unless
the code is entered.

The Internet-banking system gives clients an opportunity to operate
their accounts with no need for visiting the bank.

Another advantage of the new service in Armenia is that 9 million
Armenians living abroad can manage their accounts in Armenia by phone
and through Internet, Slater said.

It is $2 million investmen ts, which is equal to the amount required
for creating four new bank branches, Slater said. This demonstrates
that HSBC Bank Armenia is consistent in its efforts to improve the
quality of the banking services, he added.

The bank’s retail business regional manager for Armenia and Georgia
Artem Grigoryan said that no additional software is required for using
the new service. All services not connected with cash transactions
(opening, performing transactions in Armenia and abroad and from one
account to another, sending notifications to the bank about changing
the data, and etc.) are available through Internet banking, he said.

For getting connected to Internet banking system clients have to pay
10,000 drams ($26.5) for free use of the service till the end of the
year, Grigoryan said.

HSBC Bank Armenia closed joint stock company, daughter bank of HSBC
Banl plc, was registered on September 25 1995. HSBC Bank plc holds 70%
of the shares of HSBC Bank Armenia with the remaining 30% belonging
to foreign Armenian investors. The bank became member of NASDAQ OMX
Armenia at the end of January 2009.