HSBC Bank Argentina

Coordinates: 34°36′19.5″S 58°22′29.5″W / 34.605417°S 58.374861°W / -34.605417; -58.374861
Source: Wikipedia, the free encyclopedia.
This article is about the bank in Argentina. For the global HSBC Group, see HSBC. For other individual entities of the group, see HSBC Bank.
HSBC Bank Argentina S.A.
Founded1903
Defunct2024
HeadquartersBuenos Aires, Argentina
Key people
Julian Aristiqui, President
ProductsFinancial services

HSBC Bank Argentina S.A. is the principal

banking, to over 1.2 million customers. In April 2024, HSBC reached an agreement to sell its banking operations in Argentina to Banco Galicia.[1] The re-brand process will take around 12 months.[2]

Operations

Headquarters in Buenos Aires

HSBC Argentina was one of the largest financial organizations in Argentina and comprises HSBC Bank Argentina, HSBC MAXIMA AFJP, HSBC La Buenos Aires and HSBC New York Life. Proa was a local

consumer finance company set up to draw on the experience and knowledge of HSBC Finance Corporation. The group's product and service distribution network included 139 retail bank branches nationwide, as well as financial and pension fund offices. HSBC Argentina maintained deposits of around US$3 billion, and a lending portfolio of nearly US$2 billion (both around 4% of the domestic market).[3]

History

Midland Bank purchased a stake in Banco Roberts, a subsidiary established in 1903 by the historic Anglo-South American Bank, in 1987. HSBC Group acquired Midland in 1992. In 1997, the Group acquired the remaining shares in the Roberts Group holding company and renamed it HSBC Argentina Holdings SA.

The former Argentine head office of BNL, now an HSBC branch

In 2006, HSBC announced that it had signed an agreement with

Italian Argentines receiving pensions from Italy.[4]

Simon Martin, President of HSBC Argentina, was appointed head of the mother company's group sustainability and corporate responsibility office in 2007.[5]

The group, headquartered since 1996 in a modern, Avenida de Mayo high-rise, relocated in 2009 to the historic, former Banco Popular Argentino headquarters. The Plateresque building, designed by Antonio and Carlos Vilar, was completed in 1931. Located on Florida Street, it became property of Banco Roberts upon the latter's acquisition of the Banco Popular in 1996, and was transferred to HSBC Argentina upon Roberts' merger the following year.

In April 2017, the division was sold to Banco Santander Río.[6]

December 20, 2001, incident

On December 20, 2001, at the height of the

9 mm
gunshot to his head in this episode. HSBC's security video recordings demonstrated later that security personnel actually opened fire while not being at any substantial risk since marchers were not able to enter the building.

See also

  • HSBC Holdings plc

References

  1. ^ "HSBC sells Argentinian consumer unit a day after Brazil sale". Reuters. 9 October 2016.
  2. ^ https://www.cronista.com/finanzas-mercados/es-oficial-gallicia-compro-el-banco-hsbc-en-argentina-por-us-550-millones/
  3. ^ ABA Archived 2011-07-07 at the Wayback Machine
  4. ^ La Nación (in Spanish)
  5. ^ Ethical Corporation: People on the move – September 2007[permanent dead link]
  6. ^ "HSBC sells Argentinian consumer unit a day after Brazil sale". Reuters. 9 October 2016.
  7. ^ Deaths during the demonstrations that took place in December 2001 by Amnesty International on March 1st, 2002

External links

34°36′19.5″S 58°22′29.5″W / 34.605417°S 58.374861°W / -34.605417; -58.374861

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