HSBC Bank Argentina

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HSBC Bank Argentina SA

Type	Subsidiary of HSBC Holdings plc
Founded	1903
Headquarters	Buenos Aires, Argentina
Key people	Simon Martin, Chairman and CEO
Industry	Finance and Insurance
Products	Financial Services
Slogan	El banco local del mundo
Website	www.hsbc.com.ar

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

1 Banco Roberts joins the HSBC Group
- 1.1 Banca Nazionale del Lavoro
2 Argentine Banking
- 2.1 Proa
3 December 20, 2001 incident
4 See also
5 External links
6 Bibliography

[edit] Banco Roberts joins the HSBC Group

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

[edit] Banca Nazionale del Lavoro

HSBC announced on the 24 January 2006 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 a consideration of US$155 million, to be met from internal resources within Argentina.

BNL 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 logo

[edit] Argentine Banking

HSBC Argentina is one of the largest financial organisations 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.

[edit] Proa

Proa is a local consumer finance company set up to draw on the experience and knowledge of HSBC Finance Corporation.

[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 a civilian manifestation that had been marching to Plaza de Mayo against President Fernando de la Rúa who resigned a day later.

Gustavo Ariel Benedetto was murdered by a 9 mm gunshot into his head in this episode and HSBC security chief Julio Veronelli, a former member Argentinian Army, was implicated in Benedetto's murder.

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. Carrying lethal weapons by private security personnel however is forbidden by law in Argentina.