YEREVAN, November 9, /ARKA/. HSBC Bank Armenia cjsc said in a statement that it has pledged to sponsor planting up to 1000 trees in Yerevan to encourage its customers to opt to receive their statements electronically and for signing up to Personal Internet Banking services, thus helping to preserve the environment.

‘Continuing the good tradition of tree planting initiated in 1996, on 8 November HSBC Bank Armenia staff and their families will plant 500 trees in “Huysi Avan” residential community together with specialists from Armenia Tree Project and community members,’ the statement said.

Tree planting is only one aspect of a comprehensive “Green Bank” campaign which the Bank has initiated. Following the launch of Telephone Banking in March 2009 and Internet Banking in July 2009, the availability of electronic statements is aimed at reducing paper consumption and helping to preserve the environment.

“To further encourage our customers and community to use green channels and sign up for Telephone or Internet Banking services and switch to e-statements, today we go green with tree planting. It is also important to mention that all HSBC Armenia staff do their daily banking via direct channels, acting as role models for the community”, said Tim Slater, HSBC Bank Armenia Chief Executive Officer.

The area where the tree planting will take place was also chosen with care. “Huisi Avan” is a shelter for 76 underprivileged Armenian families, mainly refugees, with a minimum of three children. By planting decorative trees and donating much needed fruit trees, the Bank is helping to improve the lives of people in need.

HSBC Bank Armenia cjsc is a subsidiary of HSBC Bank plc. It was registered in Armenia in 1995.

HSBC Bank plc holds 70% of HSBC Bank Armenia cjsc, 30% are owned by Diaspora Armenians. In 2009 January HSBC Bank Armenia cjsc joined NASDAQ OMX Armenia. -0-