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.
is the principal
HSBC
operating company in
Argentina
. It is the seventh-largest bank in the country, it provided a full range of banking and financial products and services, including commercial, consumer and corporate
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
[
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]
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
[
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]
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
Banca Nazionale del Lavoro
SpA to acquire the latter's banking operations in Argentina,
Banca Nazionale del Lavoro
S.A. (BNL), for US$155 million. BNL had started operating in Argentina in 1960 and had 91 branches in 18 provinces, 700,000 active personal customers and 26,700 commercial customers when the HSBC takeover was completed on 28 April 2006. HSBC rebranded the Argentine operations of BNL as "BNL en Argentina es HSBC" (BNL in Argentina is HSBC), and for two years, maintained the link to BNL, mainly for the community of 70,000
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 Rio
.
[6]
December 20, 2001, incident
[
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]
On December 20, 2001, at the height of the
December 2001 riots in Argentina
, HSBC security personnel opened fire from inside the HSBC
Buenos Aires
headquarters building against civilians that had been marching to
Plaza de Mayo
to demonstrate against President
Fernando de la Rua
who resigned a day later.
[7]
Gustavo Ariel Benedetto was murdered by a
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
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References
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External links
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34°36′19.5″S
58°22′29.5″W
/
34.605417°S 58.374861°W
/
-34.605417; -58.374861
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