HSBC Bank Malta plc - Clarification of Media Comments

Tuesday, May 8th, 2012

On 7 May, HSBC Bank Malta plc issued an announcement to calm fears that the Bank could be leaving Malta which were ignited by a media article covering comments made by HSBC Group’s CEO Stuart Gulliver. The article was based on Mr Gulliver’s analysis of the Group’s operations across the world during which he referred to Malta’s operation as very small and made the following comment: “which makes it difficult to explain why on earth are we there… we will sort this in the next year or something similar.”

However, in the official announcement by HSBC Malta, Mr Gulliver was also quoted as saying “Malta is one of our best performing markets and we continue to invest in our Maltese franchise, expanding our range of services and products for our customers.”

Moreover, the announcement added comments by HSBC Malta’s CEO Mr Mark Watkinson highlighting the investment undertaken by the Bank in Malta as well as the opportunities arising from the government’s strategy of expanding the financial services sector in Malta.

 

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