HSBC Bank Argentina S.A. is the principal HSBC operating company in Argentina. It has around 150 branches throughout the country that provide a full range of banking and financial products and services, including commercial, consumer and corporate banking, to over 1.2 million customers.

[edit] Operations

HSBC Argentina is 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. The product and service distribution network comprises 99 branches and offices spread across the country. Proa is a local consumer finance company set up to draw on the experience and knowledge of HSBC Finance Corporation.

[edit] History

Midland Bank purchased a stake in Banco Roberts SA in 1987. HSBC Group acquired Midland in 1992. In 1997, the Group acquired the remaining shares in the Roberts Group holding company and re-named it HSBC Argentina Holdings SA.

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) but after two years HSBC removed the link to BNL.

HSBC logo

[edit] December 20, 2001 incident

On December 20, 2001 while the Argentinian economic crisis was reaching its climax, 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 Rúa who resigned a day later.^[1] 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. Additionally, carrying lethal weapons in public places by private security personnel is forbidden by law in Buenos Aires.^[2]

[edit] See also

• HSBC Holdings plc

[edit] References

[edit] External links

• HSBC Bank Argentina

[edit] Bibliography

• HSBC Argentina website [1]