HSBC Bank Armenia invests $2 million in phone, internet banking services

YEREVAN, March 12. /ARKA/. HSBC Bank Armenia has invested $2mln for
banking services via telephone and Internet, said CEO of HSBC Bank
Armenia Tim Slater.

The bank has launched telephone banking services and, starting from
July,is going to provide Internet banking in Armenia, Slater told
reporters last week.
Next year, the bank also plans to open new branches, aiming to expand
cooperation with clients, the banker said.

With main investments in the two projects made, the bank’s customers
can sign agreements on telephone banking activities.

The new services allow customers to check their accounts, get
information about deals and make other operations without having to
visit the bank, Slater said.

Established on September 25, 1995, HSBC Bank Armenia
is a joint venture between the HSBC Group, which has a 70% ownership,
and members of overseas Armenian businesses. The bank has 10 branches
in Yerevan.

As of December 31, 2008, the bank’s assets totalled 121.8bln drams,
with liabilities and capital reaching 106.3bln drams and 15.5bln drams
respectively. By end-2008, the bank’s net pre-tax profit reached 5bln
drams, with its loan investments amounting to 74bln drams, compared to
51.7bln drams earlier last year.

The bank’s balance sheet profit totalled 12.7bln drams. ($1-369.73
drams). `0–