HSBC Malta

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HSBC Malta

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HSBC Malta is one of the largest banks in Malta and is a subsidiary of HSBC, a UK bank. It is the former Mid-Med Bank and the second-oldest bank in Malta.

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History

  • 1882 Anglo-Egyptian Bank (est. 1864) commences operations in Malta.
  • 1925 Anglo-Egyptian Bank becomes Barclays Bank Dominion Colonial Overseas after the merger with the National Bank of South Africa and The Colonial Bank (est. 1836). Barclays had inherited the ownership of The Colonial Bank when it acquired the London Provincial and South Western Bank in 1918.
  • 1954 The bank shortens its name to Barclays Bank D.C.O.
  • 1971 Barclays Bank DCO becomes Barclays Bank International.
  • 1975 The government of Malta nationalizes Barclays Bank International and renames it Mid-Med Bank.
  • 1979 The Government of Malta exercises its option to purchase Barclays� remaining shareholding in Mid-Med.
  • 1991 The government of Malta sells 33% of Mid-Med Bank to the public.
  • 1993 Mid-Med lists on Malta�s stock exchange.
  • 1995 Mid-Med acquires 25% of Lohombus Bank, which specializes in housing finance. Mid-Med acquires and absorbs Investment Finance Bank in Malta.
  • 1996 Mid-Med establishes a representative office in London.
  • 1996 Mid-Med acquires another 35% of Lohombus Bank in Malta, giving it a majority.

At some point Mid-Med established representative offices in Melbourne, Toronto, Dubai, Milan, and Luxembourg.

  • 1999 Midland Bank (a subsidiary of HSBC) acquires 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.) Mid-Med becomes HSBC Malta plc. HSBC absorbs Mid-Med�s European and Dubai operations into the HSBC offices in their respective countries with a "Malta Desk" being established in several of these countries. HSBC Malta retains the offices in Canada and Australia to serve the very strong and influential Maltese communities in both countries. Lohombus Bank becomes HSBC Malta (Home Loans) Ltd. HSBC also has an offshore bank in Malta.

News

  • HSBC on a high - Times of Malta
  • HSBC makes Lm100,500 profit a day - Malta Today
  • Bullish figures - Times of Malta
  • Momentum and value investing - Malta Independent
  • HSBC announces Lm36.7m pre-tax profit - Malta Independent on Sunday
  • IT company to double staff complement - Malta Independent on Sunday

Related articles

Image:Wikipedia-small.png Wikipedia article about HSBC Malta (search). This article uses material from that article.
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