HSBC Bank has enhanced security following the hold-up of its Balzan branch last week.

"In addition to an armed guard inside each HSBC branch, HSBC has introduced a delayed time lock on each bank vault. Through this system, the vault will take a delayed period of time to open, and therefore any quick entry into the vault, whether for normal banking use or for criminal intent, has now become impossible," the bank said.

A team of five armed and hooded men escaped with more than 1 million euros in last week's hold-up, which was over in a flash. The bank has offered a Lm25,000 reward for information leading to an arraignment.

The bank said the new delayed lock system cannot be bypassed or altered as neither the branch management nor the staff members have access to the system. Notices explaining these measures have been installed in each branch, both in the public areas as well as in the reserved vault areas.

"This should serve as a deterrent as the enhanced security measures will considerably delay any quick or easy entry and exit from any branch or vault by robbers."

The bank said it has also introduced other security measures that cannot be revealed. These measures are communicated on a need-to-know basis at various levels of authority.

"These measures are aimed to increasing security, making the Banks less vulnerable, deterring criminals and improving the safety of our staff and customers as well as protecting our money. We are also in discussion with the authorities to increase general security around all banks," HSBC CEO Shaun Wallis said.