The Future of HSBC Malta

The Future of HSBC Malta

In the wake of persistent rumors regarding HSBC Malta’s potential departure from the country, the newly appointed CEO, Geoffrey Fichte, has emphatically asserted the bank’s long-term commitment to the Maltese market. This article explores Fichte’s statements, delving into HSBC’s recent actions, investments, and strategic initiatives to ascertain the veracity of the bank’s dedication to Malta.

Fichte's Assurance and Investment Plans

Geoffrey Fichte, who assumed the role of CEO in 2023, addressed the speculation surrounding HSBC Malta’s future during his recent interview. Despite HSBC UK’s announcement of closing its Swatar call center, Fichte emphasized that this decision was unrelated to HSBC Malta, clarifying that the call center operated under a separate legal entity. Fichte pointed out that the bank’s €30 million investment in a new headquarters exemplifies its substantial and long-term commitment to Malta, marking it as HSBC’s most extensive investment in a European headquarters.

Additionally, Fichte revealed plans to upgrade and replace all ATMs, incurring a cost of €5 million. He highlighted ongoing negotiations for an ambitious three-year collective agreement with the bank’s workers. These strategic moves, Fichte argues, underscore HSBC Malta’s dedication to improving its business for the long term.

HSBC's Integration with the Maltese Community

Fichte emphasized the intrinsic connection between HSBC and the Maltese community, citing the responsibility the bank holds as a financial institution with 9,000 shareholders in Malta. He asserted that HSBC’s success is synonymous with Malta’s success, reinforcing the idea that the bank remains deeply rooted in the local economy.

Addressing Rumors and Hypothetical Scenarios

While Fichte acknowledged the prevalence of rumors, he refrained from explicitly denying the possibility of considering offers in a hypothetical scenario where a buyer expresses interest. He explained that the bank’s status as a systemic bank listed on the stock market restricts him from commenting on speculative scenarios. Fichte emphasized that, regardless of rumors, HSBC’s daily focus is on investing and working diligently to support its customers with a long-term perspective.

HSBC Malta: A Community Bank

Dispelling notions of a shift away from retail and consumer banking, Fichte categorically stated that HSBC is a community bank committed to supporting customers and families across Malta and Gozo. While acknowledging areas for improvement in customer service, Fichte emphasized the importance of balancing digital solutions with personalized customer service.

Recognition and Future Focus

Fichte highlighted HSBC Malta’s achievements in 2023, notably being named the country’s ‘Bank of the Year’ by The Banker, a Financial Times publication, and achieving profits exceeding €100 million. Looking forward, he expressed the bank’s commitment to focusing on sustainability, recognizing it as a crucial aspect for the future.

Sustainability Initiatives and Real Estate in Malta

Fichte addressed the challenge of reconciling Malta’s strong focus on property and construction with sustainability goals. Acknowledging the importance of property in Malta’s economy, he emphasized the need to incorporate environmental considerations into financing construction projects. Fichte outlined the bank’s efforts to impose stricter environmental standards on borrowers and encourage investments in sustainability-linked projects.

Shifting Towards a Knowledge-Based Economy

While Fichte acknowledged the significance of the property sector for HSBC, he endorsed calls for Malta to transition towards a more knowledge-based economy. Recognizing Malta’s competitive position globally, he detailed the bank’s collaboration with national authorities to support the growth of new industries, from life sciences to software and video game development.

Challenges and Opportunities

Fichte acknowledged the universal challenges faced by Malta, from inflation impacts to the slow transition to a low-carbon economy. He highlighted HSBC’s role in assisting customers in navigating these challenges, creating awareness, and supporting Malta’s economic growth.


In conclusion, Geoffrey Fichte’s statements and HSBC Malta’s recent actions portray a narrative of commitment and investment in the Maltese market. Despite persistent rumors, the bank’s focus on long-term growth, community integration, sustainability, and support for emerging industries suggests a positive outlook for HSBC Malta.


Is HSBC Malta planning to leave the country?
HSBC Malta’s CEO, Geoffrey Fichte, has dismissed rumors of the bank’s departure, emphasizing a long-term commitment through substantial investments and strategic initiatives.

Why is HSBC UK closing its Swatar call center?
The closure of the Swatar call center by HSBC UK is unrelated to HSBC Malta, operating as a separate legal entity with no impact on the Maltese operations.

What are HSBC Malta’s recent investments?
HSBC Malta has invested €30 million in a new headquarters and plans to spend €5 million on upgrading all ATMs. These initiatives demonstrate the bank’s commitment to long-term improvement.

How does HSBC balance digital solutions with personalized customer service?
According to CEO Geoffrey Fichte, HSBC aims to leverage digital solutions to enhance customer service without substituting personalized interactions, acknowledging areas for improvement.

Why is sustainability important for HSBC Malta?
Sustainability is considered crucial for the future, and HSBC Malta is actively promoting environmental considerations in financing construction projects and encouraging sustainable investments.

Is HSBC Malta transitioning away from retail banking?
No, HSBC Malta reaffirms its identity as a community bank committed to supporting customers and families across Malta and Gozo in both retail and consumer banking.

What challenges does Malta face, according to HSBC’s CEO?
Geoffrey Fichte highlighted challenges such as inflation impacts and the slow transition to a low-carbon economy, where HSBC plays a key role in assisting customers.

How is HSBC Malta supporting the growth of new industries?
HSBC Malta is collaborating with national authorities to support emerging industries, including life sciences, software, and video game development, to diversify Malta’s economy.

Does HSBC Malta endorse the use of cash from property sales to finance other projects?
CEO Geoffrey Fichte describes using cash from property sales to finance other projects as “not a healthy practice” and does not recommend it.

What is HSBC Malta’s stance on a knowledge-based economy?
While recognizing the significance of the property sector, HSBC Malta supports calls for Malta to shift towards a more knowledge-based economy, collaborating with authorities on this transition.


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