HSBC Global Services (UK) Limited Malta Branch (HSMB), locally known as HSBC Swatar Contact Centre, will close by June 2024, the bank announced Thurday.

HSMB is a separate legal entity from HSBC Bank Malta p.l.c. It serves HSBC UK Bank plc exclusively, and primarily provides customer service and customer due diligence to UK customers, the company said.

The decision to close the contact centre operations follows an extensive review of the locations that serve HSBC UK Bank plc customers. The closure aims to achieve further consolidation and rationalisation of regional contact centres, the bank said.

HSMB employs around 200 people, who will be subject to its redundancy policies, the bank said. HSBC said it will support its employees as they explore alternative opportunities. Local Authorities have held discussions to explore the possibility of impacted employees moving to new opportunities at other local contact centres.

There is no impact on HSBC Bank Malta p.l.c. operations which is a completely separate company, the statement added. HSBC Bank Malta p.l.c. remains an active participant in the local economy and community and is committed to offering the best service to its customers. It is focused on the future, has a strong appetite to grow the bank in a sustainable manner, and will continue to invest to meet the evolving needs of its customers.

As announced in August, throughout 2024, the Bank will be replacing and upgrading its ATM network. In the first quarter of 2024, it will officially inaugurate its new premises in Qormi – HSBC Hub – a capital investment of €30 million.

In a statement, the government said that it had contacted a number of operators in the banking sector who have employee vacancies they would like to fill.

Employees who will be leaving HSBC will be in a position to find alternative employment.

The government said that there is a shortage of 7,051 workers in the private sector.