HSBC Bank Argentina

Infobox_Company
company_name = HSBC Bank Argentina S.A.
company_
company_type = Subsidiary of HSBC Holdings plc
company_slogan = El banco local del mundo
foundation = 1903
location = Buenos Aires, Argentina
key_people = Simon Martin, Chairman and CEO
num_employees =
industry = Finance and Insurance
products = Financial Services
homepage = [http://www.hsbc.com.ar/ www.hsbc.com.ar]
revenue =

HSBC Bank Argentina S.A. 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.

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.

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.

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.

Proa

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

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. [ [http://web.amnesty.org/library/index/engamr130022002 Deaths during the demonstrations that took place in December 2001] by Amnesty International on March 1st, 2002]

Gustavo Ariel Benedetto was murdered by a 9 mm gunshot into 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 on public places by private security personnel is forbidden by law in Buenos Aires. [ [http://www.cedom.gov.ar/es/legislacion/normas/leyes/html/ley1913.html Ley 1913] , inciso 2) a), by La Legislatura de la Ciudad de Buenos Aires on December 6th, 2005.]

See also

*HSBC Holdings plc

References

External links

* [http://www.hsbc.com.ar/ HSBC Bank Argentina]

Bibliography

* HSBC Argentina website [http://www.hsbc.com.ar]
* [http://www.euro2day.gr/articlesfna/13620234/ Completion of BNL takeover]