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HSBC Bank Argentina S.A. was the principal HSBC operating company in Argentina. It was 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.
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On 9 April 2024, HSBC announced the sale of its Argentina business to Galicia for $550 million. HSBC said that the deal awaited government approval but was expected to be finalized by the year-end. [123] HSBC was also approved to exit its Armenia holdings by the central bank in a sale to Ardshinbank on 27 August. [124]
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HSBC has agreed to sell its business in Argentina to Grupo Financiero Galicia — the largest private financial group in the country — for $550 million, the UK-based bank said Tuesday.
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This came as a surprise after HSBC sold its branch network in Upstate New York in 2012 to First Niagara, KeyBank, Community Bank, N.A. and Five Star Bank. In January 2019, HSBC announced it would open two new branches in Western New York, as part of the bank’s initiative to open 50 branches in new and existing markets in the United States.
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