YEREVAN, November 1, /ARKA/. HSBC Bank Armenia has announced today the launch of a new product designed for corporate clients – corporate ATM cards, the Bank’s press office said in a press release.

According to it, corporate ATM cards enable corporate customers of the Bank to have an easy and quick access to their company funds. The product allows Company Director and other authorized individuals to obtain up to 3 million AMD cash funds from the Bank’s ATM network a day. Encashment is exempt from the encashment fee for both local and foreign currency funds.

In addition to cash withdrawal transactions Corporate ATM cards also offer a number of other features, such as transferring funds between company accounts, transferring funds to other accounts within the Bank, checking company account balances, conducting foreign exchange transactions, etc.

‘This is one of our initiatives designed to materialize our vision of developing into the most business-friendly bank in Armenia. Our goal is to make Bank-customer relationships as productive, comfortable and safe as possible,’ HSBC Bank Armenia CEO, Astrid Clifford, was quoted as saying.

She said the first results were very promising. The Bank has issued 300 corporate ATM cards which are used actively by their holders.

‘This means that this new product is in tune with the demands of our corporate customers,’ Astrid Clifford said.

Details of corporate banking cards are introduced in http://www.hsbc.am/1/2/en/business/general-banking-services/corporate-atm-cards.

HSBC Bank Armenia cjsc was the first international bank to open in Armenia in 1996. The bank is a joint venture between the HSBC Group, which has 70 percent ownership, and members of overseas Armenian businesses. The bank offers a wide range of products and services to individual as well as corporate customers, including personal financial services, commercial banking and treasury and capital markets services. It has 9 branches and offices in Yerevan, as well as 50 ATMs located throughout the city.

According to ARKA news agency’s data, on September 30 the Bank’s total assets grew to 127.8 billion Drams, its liabilities stood at 104.8 billion Drams, the total capital was worth 23 billion Drams, credit investments reached 83.6 billion Drams and deposits were worth 99.5 billion Drams. In the first nine months it earned 3 billion Drams in net profits. ($1-358.21 Drams) -0-