Member Spotlight – HSBC Malta

Finance Malta


Finance Malta is a non-profit public-private initiative set up to promote Malta as an international financial centre, both within, as well as outside Malta. It brings together, and harnesses, the resources of the industry and government, to ensure Malta maintains a modern and effective legal, regulatory, and fiscal framework in which the financial services sector can continue to grow and prosper. The Board of Governors, together with the founding associations: The Malta Funds Asset Servicing Association, the Malta Bankers Association, the Malta Insurance Association, the Association of Insurance Brokers, the Malta Insurance Managers Association, the Institute of Financial Services Practitioners; its members and staff are all committed to promote Malta as an innovative international.
HSBC Bank Malta plc is the leading international banking and financial services group in Malta. The Bank is a member of the HSBC Group, whose ultimate parent company is HSBC Holdings plc which is headquartered in London.
Malta Law Department Performance
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Leveraging your presence for the greater good

HSBC Malta's CEO Geoffrey Fichte was able to list a number of achievements for 2024, but there is no doubt that he is also proud of the Bank's Foundation, and contributions to ESG.

  • For those who don't know your company, can you provide some background?

HSBC Bank Malta plc is the leading international banking and financial services group in Malta. The Bank is a member of the HSBC Group, whose ultimate parent company is HSBC Holdings plc which is headquartered in London. HSBC serves customers worldwide from offices in 62 countries and territories in our geographical regions: Europe, Asia, North America, Latin America, and the Middle East and North Africa.

HSBC Bank Malta provides a comprehensive range of financial services which are all designed to meet the expanding requirements of its large client base of personal and corporate customers. These include wealth and personal banking, commercial banking and global markets.

The Bank has two operating subsidiaries:

  1. HSBC Life Assurance (Malta) Ltd – A company authorised by the Malta Financial Services Authority to carry on the business of insurance in Malta under the Insurance Business Act (chapter 403, Laws of Malta). A range of protection and investment life assurance products are distributed mainly through HSBC Bank Malta which is enrolled as a tied insurance intermediary under the Insurance Distribution Act (chapter 487, Laws of Malta).
  2. HSBC Global Asset Management (Malta) Ltd – a wholly owned subsidiary of HSBC Bank Malta, regulated by the Malta Financial Services Authority. It has an investment services licence and is principally engaged in the asset management of Collective Investments Schemes and Discretionary Portfolio Mandates.
  • Can you share a little-known fact about your company?

HSBC Malta is one of only two banks within the HSBC Group that has a Foundation. In Malta, the Bank fulfils the Group's Corporate Sustainability strategy primarily through the HSBC Malta Foundation. The three pillars of the HSBC Malta Foundation aim to improve the quality of life and education for children, especially those who are disadvantaged; to promote and work towards a more sustainable environment; and to preserve Malta's rich and unique historical heritage. Through the HSBC Malta Foundation, the Bank seeks to work with numerous stakeholders in the community with the aim of creating a sustainable future.

Drawing from HSBC Group resources and a network of partners, we work to tackle critical problems in key areas of sustainable finance, climate and future skills. We take pride in HSBC colleagues who contribute to the charities and causes that they feel passionate about. In this regard, we grant all our employees a paid day to take leave and volunteer for work in the community.

  • What are you currently working on and what are your company's plans and strategic priorities for the coming years?

My main focus is to continue to grow from our areas of strength, supporting our customers and maximising sustainable finance opportunities by leveraging our international advantage, maintaining proactive cost management and a robust risk management culture. We continue to adhere to the highest standards which are synonymous with the HSBC brand, and which continue to be a source of strength and competitive advantage, as we work diligently to support growth in Malta's economy by facilitating new business and cross-border trade.

Another area of focus is investment in technology. We aim to continue investing in technology and will shortly roll out a progamme to replace and upgrade our entire ATM fleet and have other projects in the pipeline aimed at improving efficiency and customer service.

ESG has now also taken centre stage. HSBC has always been a firm believer in the importance of transparency and corporate responsibility. In recent years, the Bank has implemented a robust and comprehensive ESG strategy that positions it as a major player in the push for a more sustainable banking sector.

In fact, a while back, the HSBC Malta Foundation partnered with the Malta Chamber of Commerce, Enterprise and Industry on a project entitled 'Establishing a Framework for Net Zero Buildings in Malta'. The aim of this project was to guide Malta towards achieving its climate goals by tackling the building and construction sector, with particular focus on operational carbon, i.e. the emissions of carbon dioxide and other global warming gases during the in-use operation of a building.

  • Are there any projects/achievements that you are exceptionally proud of?

Last year was exceptionally rewarding. HSBC Bank Malta was the recipient of renowned awards like Banker of the Year from the Financial Times (December 2023), Market Leader and Best Service from Euromoney Cash Management Survey (November 2023) and Market Leader and Best Service Provider from Euromoney Trade Finance Survey (March 2023).

We started 2024 with a bang. In January 2024, we signed a new collective agreement with the Malta Union of Bank Employees (MUBE) for the period 2024 – 2026. The agreement was signed in Malta, and then validated at HSBC Continental Europe's HQ in Paris by its CEO, Andrew Wild, with representatives of MUBE present. This ambitious and ground-breaking agreement is characterised by significant enhancements to employee pay, benefits and retirement pension plans.

In January, we also inaugurated our new headquarters 'HSBC Hub' in Qormi. We have significantly invested in the transformation of the Qormi complex to turn it into a state-of-the-art and environmentally friendly office. With a capital investment of €30 million, the HSBC Hub was the largest workplace investment project in HSBC Europe for 2022 and 2023, that will now facilitate flexible working and maximise user experience – for employees and customers alike.

I am also particularly proud of the end-of-year financial results we announced in February 2024. We achieved record results in 2023, declaring one of the highest dividends in the last 10 years. Our quarterly results, announced in April 2024, showed a continuation of our strong momentum with a 48% growth in pre-tax profit over prior year.

  • What in your opinion makes Malta an effective jurisdiction to set up a business?

Malta boasts a strategic geographical location, modern infrastructure, resources and people to give professionals and entrepreneurs the possibility to set up and grow their business with success which is especially attractive for investors. The workforce in Malta is international, diverse and multilingual further attracting professionals from all corners of the world. The country enjoys a safe investment environment and provides a number of incentives to encourage and assist investors.

  • What kind of people/companies in the financial services community would you want to connect with?

In our rapidly evolving business world, you need professional connections more than ever. A strong network is key to unlocking the best employment opportunities, collaborating with colleagues, flourishing in any role and securing mutually beneficial business partnerships. We are involved in and support various business organisations in Malta including Finance Malta, the Malta Chamber of Commerce, Trade Malta and the Maltese Chinese Chamber of Commerce. These relationships allow us to leverage our international strengths, networks and capabilities to add more value to the local business community and the broader Maltese economy.


Picture: Geoffrey Fichte, CEO and Executive Director, HSBC Bank Malta

  • Bio:

Geoffrey Fichte was appointed CEO and Executive Director of HSBC Bank Malta in May 2023. He is also Chairman of HSBC Life Assurance (Malta) Ltd and of HSBC Global Asset Management (Malta) Ltd.

Geoffrey has over 20 years of experience in financial services: banking, insurance, asset management and global strategy across Hong Kong, London, New York and Mexico City.

He previously held several senior international positions within the HSBC Group, including president and CEO of HSBC Bank Uruguay; Head of Business Banking, HSBC Mexico; Senior Executive, Corporate Development & Global Strategy, HSBC Group, London; and Senior Manager International (Asia), Hong Kong.

He holds a Bachelor of Science in Economics from Wharton School, University of Pennsylvania, Philadelphia, USA.

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