As part of the due diligence process, HSBC Continental Europe has requested that the Bank seek approval from its shareholders to provide certain information, including unpublished price-sensitive data, to legitimate potential buyers and their advisers. This step is essential for those interested in acquiring a substantial shareholding in the Bank.

To facilitate this process, HSBC Malta will be convening an Extraordinary General Meeting (EGM), where shareholders will be asked to vote on authorising the disclosure of this sensitive information. The EGM is likely to take place in the first weeks of January 2025, with further details to follow in a subsequent announcement.

The statement also emphasised that no final decision has been made on the future of HSBC Malta’s majority stake, and HSBC Holdings remains committed to considering a full range of options moving forward.

While the announcement confirms interest from potential investors, it leaves the door open for various possibilities, including a potential sale or other forms of restructuring. The news is likely to have significant implications for the local financial landscape, with analysts closely monitoring developments as they unfold.

Context and Background

The announcement from HSBC Malta comes amid ongoing speculation regarding the future of the bank’s operations in Malta. HSBC Holdings has been reviewing its global footprint for several years, focusing on strengthening its core markets, particularly in Asia, and divesting from non-core regions in Europe.

Rumours have intensified in recent months that a number of local and international investors have expressed interest in acquiring HSBC Malta. Among the names mentioned is APS Bank, a prominent local player in the Maltese banking sector. The potential sale of HSBC’s stake in Malta would mark a significant shift in the country’s banking landscape, and APS Bank has long been considered a likely candidate, given its ambition to expand its market share and diversify its operations.

These developments are likely to create ripples within Malta’s financial services industry, as a change in ownership of HSBC Malta could lead to shifts in strategy, new investment, and potential consolidation in the sector. With the final decision still pending, all eyes are now on the upcoming EGM, which will be pivotal in determining the next steps for HSBC Malta and its future within the local market.