HSBC Bank Malta plc - Quote

HSBC Bank Malta plc - Profile

In June 1999, HSBC Holdings plc acquired 70.03% of the shareholding of HSBC Bank Malta plc (previously Mid-Med Bank plc) from the Government of Malta for a consideration of €200,559,050. The remaining 29.97% of the shares remain in the hands of the public.

The origins of HSBC Bank Malta date back to 1882 when the Anglo-Egyptian bank was established. This bank subsequently became Barclays Bank Dominion and Overseas. In 1975, the business of Barclays Bank International Ltd. was taken over by Mid-Med Bank Ltd.

The bank is authorised to carry on the business of banking under the Banking Act, 1994 as a credit institution. It is also an authorised dealer in terms of the Exchange Control Act (Cap.233) and a licensed financial intermediary in terms of the Stock Exchange Act, 1990. The bank also holds a Category 3 and a Category 4 Investment Services licence issued by the Malta Financial Services Authority in terms of the Investment Services Act, 1994. These licences authorise the bank to provide both investment services to third parties and trustee or custodian services for collective investment schemes.

HSBC Bank Malta plc has several branches and agencies in Malta and Gozo and offers a diversified range of financial services. Some of the services offered include personal and commercial banking, fund management and administrative services, treasury management, international banking, capital market and investment services, and life assurance.

HSBC Bank Malta plc is a member of the HSBC Group, whose parent company is HSBC Holdings plc The HSBC Group’s international network comprises more than 6,000 offices in 81 countries and territories in the Asia-Pacific region, Europe, the Americas, the Middle East and Africa.

The Directors of HSBC Bank Malta plc are: Mr Albert Mizzi, Mr Alan Richards, Ms Sally Robinson, Mr Anthony Michael Mahoney, Dr Philip Farrugia Randon, Mr Charles John Farrugia, Mr Victor Scicluna, Mr Peter Paul Testaferrata Moroni Viani, Mr Sonny Portelli and Mr George Brancaleone.

Subsidiaries

• HSBC Life Assurance (Malta) Ltd (99.99%): licensed under the Insurance Business Act, 1998 to carry life insurance business in Malta.

• HSBC Global Asset Management (Malta) Ltd (99.99%): acts as a manager and administrator of collective investment schemes. The company owns 99.9% of HSBC Investment Services (Malta) Ltd, an authorised financial intermediary which is licensed under the Investment Services Act, 1994.

• HSBC Stockbrokers (Malta) Ltd (99.99%): the company’s main objectives are to arrange/support listing of stocks and shares for companies and carry out stockbroking activities for clients on the Malta Stock Exchange.

• HSBC Securities Services (Malta) Ltd (100%): the company provides a comprehensive range of fund administration services, such as setting up and launching of investment funds, valuation and unit price calculation services, to fund promoters that are looking for administrative support for their managed investment funds and corporate secretarial services.

Bond Issues

• On 10 January 2007 HSBC Bank Malta plc issued  €58,234,930 4.6% Bonds 2017. The proceeds from this bond issue were used by HSBC to meet part of its general financing requirements and also forms part of its Additional Own Funds (Tier II) in terms of the Own Funds Directive BD/03.

• On 15 September 2008 the Bank issued €30,000,000 5.9% Bonds 2018. The net proceeds from this bond issue were used by HSBC to meet part of its general financing requirements particularly to match its 10-year loans. Moreover, the funds constitute additional own funds (Tier II capital) in terms of the Banking Act to help HSBC maintain its capital ratio above the Group’s benchmark of 10% and regulatory requirement of 8%.

Share Capital

In 1991, the Government of Malta offered to the general public 6,000,000 ordinary “C” shares (approximately 32.9% of the equity share capital) of a nominal value of €1.1647 each at a price of €3.4941 per share. Mid-Med Bank plc was listed on the Malta Stock Exchange on 27 January 1993. In December 1994 Mid-Med Bank plc split its shares on a 2-for-1 basis. Following this exercise, the authorized share capital of the Bank of €93,174,936 and the issued share capital of €21,243,885 was composed of 160,000,000 shares and 36,480,000 shares of a nominal value of €0.5823 each.

In March 2005, HSBC Bank Malta plc carried out a 2-for-1 share split. The previous authorised share capital of €93,174,936 divided into 160,000,000 ordinary shares of €0.5823 each were split into 320,000,000 ordinary shares of €0.2912 each. The issued and fully paid up capital of €21,243,885 comprised of 36,480,000 ordinary shares of €0.5823 was split into 72,960,000 ordinary shares of €0.2912 each.

In April 2006, HSBC Bank Malta plc capitalised €53,808,526 from retained earnings and €9,783,368 from other reserves to carry out a 3-for-1 bonus share issue. The bonus share issue resulted in the Bank’s share capital increasing from €21,243,885 to €84,983,808 represented by 291,840,000 shares of a nominal value of €0.2912 each.

Following the euro changeover it was deemed necessary to round up the nominal value of shares to €0.30 through a transfer from distributable reserves to capital.

HSBC Bank Malta plc - Financials

HSBC Bank Malta plc Interim Accounts

HSBC Bank Malta plc Final Accounts

News for HSBC Bank Malta plc

HSBC Bank Malta plc - Downloads

• HSBC Bank Malta plc - 2009 Annual Report (1.4 MiB, 119 hits)