YEREVAN, September 19. / ARKA /. HSBC Bank Armenia CEO, Astrid Clifford, said today the investment climate in Armenia is slowly and progressively improving. Speaking at a news conference she said HSBC Bank Armenia was making progress from the first year of its inception in Armenia.

"In particular, the return on our assets now stands at 6%, return on equity is at 22%," she said, adding that these figures are quite high in the context of international standards.

Clifford said the bank is working now on two major projects, one is introduction of multifunctional ATMs and the second is a debit card project. She said the bank will implement this year several investment programs and open two new branches in 2012.

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. ($ 1 - 375.3 drams). --0--