HSBC Bank Malta has said that it is not aware of any negotiations taking place between its majority shareholder (HSBC Holdings plc) and APS Bank.

On Wednesday morning, HSBC Malta issued a statement, announcing that HSBC Holdings plc on Tuesday evening informed the Board of Directors that it will undertake a strategic review of its indirect 70.03% shareholding in the Bank. The Malta Independent had then sent questions to HSBC Malta, asking for information as to the bank's intentions behind this strategic review of its shareholding, and whether it is considering selling part of its shareholding, or all of it. In response, an HSBC Malta spokesperson said: "HSBC Group is reviewing its strategic options with respect to its majority shareholding in HSBC Malta. The review will consider a full range of options and no decisions have been made yet. It is business as usual for HSBC Malta and our focus will continue to be to serve our customers to the highest standards."

Meanwhile, The Times of Malta quoted inside sources as saying that APS bank is in advanced negotiations to take over HSBC's Malta operations, and that negotiations between HSBC Global and APS have been underway for years.

In a statement issued at around 11pm on Wednesday, HSBC Bank Malta made reference to the reports in the local media regarding the alleged APS Bank p.l.c. negotiations. "In terms of Capital Markets Rules 5.174.2, HSBC Malta announces that it is not aware of any such negotiations taking place between the majority shareholder and APS Bank p.l.c. or any other third party but has requested clarification of the position from its majority shareholder. HSBC Malta will make further announcements as and when required."