HSBC BANK ARMENIA EXPANDS ITS IT OPERATIONS AMONG HSBC BANKS IN THE REGION

ARKA
Oct 14, 2009

YEREVAN, October 14, /ARKA/. In a 2008 September 18 press release
HSBC Armenia had announced its plans of becoming a regional centre
for information technology insourcing for CIS countries.

On October 13, 2009 it announced that effective September 2009
HSBC Armenia’s HUB team (HSBC Universal Banking team) of seven has
expanded its operations to support Georgia, Kazakhstan and Russia
HUB departments, and has become the Regional HUB Support Team.

HUB is the proprietary banking software of the HSBC Group and is a
common collection of computer programs that supports a wide spectrum
of banking and investment activity, meeting diverse customer demands
and helps streamlining of HSBC back office activities. The program is
currently deployed in 63 countries, processing 764 million transactions
per annum across 10 million active customer accounts around the world.

Having superior IT knowledge and skills in the region the Regional
HUB Support Team based in Armenia will handle number of important
processes to support HSBC banks in the region.

Future plans of the Regional HUB Support Team represent expansion
of the services to Central and Eastern Europe and other European
countries during 2010 – 2011.

HSBC Bank Armenia is a subsidiary of HSBC Bank plc. It was registered
in Armenia on September 25, 1995. HSBC Bank plc holds 70% of HSBC
Bank Armenia; the rest are held by Diaspora Armenians.

HSBC Bank Armenia is a member of NASDAQ OMX Armenia.