HSBC has been surprised by customer disappointment at the bank's recent introduction of an annual internet banking tariff.
"We have seen the letters to the press and we have been rather surprised by the reaction," chief executive officer Alan Richard told The Times Business last Friday after the announcement of the bank's annual financial results for the year ended December 31.
"It is an industry-wide tariff. We have been given no credit for not charging for internet banking before now, nor for introducing the lowest charge locally. You have to look at costs, and compare the costs to the charge.
"Also, we have been very transparent about the tariff's introduction." HSBC Bank Malta introduced a €6 annual tariff on internet banking last month. Bank of Valletta charges €6.99, APS Bank €7.
Asked about rumours that HSBC planned to close some local branches, Mr Richards said that there was no intention for a radical change in the network. He explained that the Customs House branch on Valletta's Lascaris Wharf had been closed because of health and safety issues.
HSBC Bank Malta on Friday announced pre-tax profits of €96.1 million, down 16.2 per cent over 2007. Profit after tax fell by €13.2 million to €63.1 million.
Mr Richards told stockbrokers the bank "was in good shape" considering the climate. He added that while there would be strict discipline on costs this year as profitability comes under increasing pressure, it would not be at the expense of short- to medium-term business, branch refurbishment or investment in people and technology.
"We have seen the letters to the press and we have been rather surprised by the reaction," chief executive officer Alan Richard told The Times Business last Friday after the announcement of the bank's annual financial results for the year ended December 31.
"It is an industry-wide tariff. We have been given no credit for not charging for internet banking before now, nor for introducing the lowest charge locally. You have to look at costs, and compare the costs to the charge.
"Also, we have been very transparent about the tariff's introduction." HSBC Bank Malta introduced a €6 annual tariff on internet banking last month. Bank of Valletta charges €6.99, APS Bank €7.
Asked about rumours that HSBC planned to close some local branches, Mr Richards said that there was no intention for a radical change in the network. He explained that the Customs House branch on Valletta's Lascaris Wharf had been closed because of health and safety issues.
HSBC Bank Malta on Friday announced pre-tax profits of €96.1 million, down 16.2 per cent over 2007. Profit after tax fell by €13.2 million to €63.1 million.
Mr Richards told stockbrokers the bank "was in good shape" considering the climate. He added that while there would be strict discipline on costs this year as profitability comes under increasing pressure, it would not be at the expense of short- to medium-term business, branch refurbishment or investment in people and technology.