HSBC Bank Malta

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HSBC Bank Malta plc

Type	Public, majority shareholder HSBC Holdings plc
Founded	1882
Headquarters	Valletta, Malta
Key people	Albert Mizzi, Chairman Shaun Wallis, CEO
Industry	Finance and Insurance
Products	Financial Services
Employees	1,400
Slogan	The world's local bank
Website	www.hsbc.com.mt

HSBC Bank Malta plc is the largest bank in Malta and a subsidiary of HSBC. It is the former Mid-Med Bank (see below) and the second-oldest bank in Malta. HSBC's Malta headquarters are at 233 Republic Street, Valletta. It offers a comprehensive range of financial products and services via a network of around 60 branches and offices throughout Malta and Gozo.

1 History
- 1.1 Nationalisation
- 1.2 Mid-Med joins the HSBC Group
2 Maltese Banking
- 2.1 Malta Call Centre
3 See also
4 External links

[edit] History

HSBC Malta dates back to the commencement of operations in Malta by the Anglo-Egyptian Bank (est. 1864), which merged with the National Bank of South Africa and The Colonial Bank (est. 1836) to become Barclays Bank Dominion Colonial Overseas in 1925 after Barclays acquired The Colonial Bank when it acquired the London Provincial and South Western Bank in 1918. In 1954 the bank shortened its name to Barclays Bank D.C.O. and in 1971 became Barclays Bank International.

[edit] Nationalisation

In 1975 the government of Malta nationalized Barclays Bank International's operations in Malta and renamed it Mid-Med Bank, exercising its option to purchase Barclays’ remaining shareholding in Mid-Med in 1979.

In 1991 the Maltese government sold 33% of Mid-Med Bank to the public and in 1993 Mid-Med listed on Malta’s stock exchange. Mid-Med acquired 25% of Lohombus Bank, which specializes in housing finance, in 1995 along with the Investment Finance Bank in Malta. Mid-Med gained a majority of Lohombus Bank in Malta when it acquired another 35% of the firm in 1996, the same year it established a representative office in London.

[edit] Mid-Med joins the HSBC Group

HSBC logo

In 1999 Midland Bank (a subsidiary of HSBC) acquired the government of Malta’s 67.1% direct holding in Mid-Med, as well its 2.7% indirect holdings. (Midland had entered Malta with a branch in 1996). When HSBC brought all its operations under a common name, Mid-Med became HSBC Malta Bank plc. HSBC absorbed Mid-Med’s representative offices in Dubai, Milan, and Luxembourg into the HSBC offices in their respective countries but established a "Malta Desk" in several of these countries. Lohombus Bank (see below) became HSBC Malta (Home Loans) Ltd.

[edit] Maltese Banking

Under the HSBC brand the bank maintains a network of around 60 branches throughout Malta and Gozo.

HSBC Malta has offices in Melbourne and Toronto to serve the very strong and influential Maltese communities in each country, along with an offshore banking operation in Malta itself. HSBC Bank Malta is part of the European region within the HSBC Group and therefore reports to HSBC Bank plc.

[edit] Malta Call Centre

In April 2006 HSBC announced that it would be opening a new call centre in Malta, with an investment of €7 million and the creation of 350 jobs. The centre will deal with calls from HSBC Bank plc's customers in the United Kingdom, and operate as a branch of that company, under the oversight of HSBC Malta management [1].