The Minister for the Economy, Investment and Small Business yesterday evening presided over the new HSBC International Banking Centre (IBC) in Sliema. The centre, located on the first floor of the Bank’s branch in High Street, focuses on serving clients who travel extensively or who are relocating to or from Malta.
Minister Cardona said that this is a most timely venture by HSBC, as Malta prepares to welcome new citizens who’ve joined the Individual Investor Programme.
“I know your plan is to offer highly individual services to clients, and I’m sure this will make them feel welcome; it will help them when making investment decisions and can only deepen their relationship with Malta” held Minister Cardona.
Dr Cardona said that Malta appreciates the talent and skills that others bring and that direct investment has boosted our economy and created many jobs.
Referring to the positive economic performance Malta has been registering, Minister Cardona said that the strong momentum exhibited by the Maltese economy during 2013 and 2014 is set to continue during this year where the Maltese economy grew by 4 per cent in real terms during the first quarter of 2015 which compares to an average growth of 1 per cent registered in the Euro Area for the same period.
Minister Cardona thanked all the main players in the financial services industry stating that although all sectors of the economy are growing, the biggest performer was the financial and insurance sector where an increase of almost 12 per cent was recorded.
Dr Cardona also referred to opportunties in Malta for new investors in the professional, scientific and technical sector and other private sectors, where increases are being recorded namely in property, agriculture and fishing, wholesale and retail trade and information and communication.
At the official opening ceremony, HSBC Malta International Banking Centre Head Christian Debono stated that at the new IBC a dedicated team of 17 personnel will assist clients. “We are committed to delivering high-quality integrated banking, wealth planning, investment solutions and lending” said Christian Debono.
HSBC Malta CEO Mark Watkinson said, “With our specialist knowledge, multi-currency products and global connections, we simplify international banking and wealth management - and make life easier for international clients.”
The opening ceremony was attended by senior HSBC Malta officials and a number of representatives from Malta’s legal and accounting firms, various diplomats and other dignitaries.