Puttinu ends union with HSBC amicably

The children's charity Puttinu Cares has decided to end its "union" with HSBC in an amicable manner, so much so that the support group does not plan to look for another partner.

The charity has grown and matured since it was established in 2001 to the extent that: "We do not need the bank anymore. We can go it alone," according to Puttinu Cares president, Victor Calvagna.

"We are not looking for a relationship with another bank. On the contrary, we think it is time Puttinu is not tied to a main sponsor," he added. "Changing one bank for another would mean ending up in the same situation."

A committee member said some time ago that Puttinu was considering changing its bank because the connection with HSBC had "backfired".

Dr Calvagna said the committee decided its ties with HSBC would either be completely cut or the bank would have to pay much more for the marketing it gained through the charity.

Last September, the charity told the bank it wanted to raise the sponsorship from its yearly €4,666 to €58,250 in return for its exposure. The bank never got back on the proposal, so the group opted to cut off completely, Dr Calvagna said, adding that a letter has been sent to the bank, informing it of the decision.

Dr Calvagna insisted that the charity has no problem with the bank and was grateful for its assistance along the years. "It was a godsend at the start. We were nothing; we did not even have a name," he said.

Today, however, Puttinu receives from individuals and other organisations, the kind of money the bank had pledged almost on a weekly basis, he said.

Moreover, the charity pays €55,000 in annual interest on a loan it took out from the bank to purchase two apartments in Sutton, UK, to accommodate patients undergoing treatment and their families. Puttinu Cares had asked for a home loan but was instead given a subsidised commercial rate.

Over 10 years, the charity had pointed out, it will be paying €350,000 in interest on a loan of €896,000.

Dr Calvagna said Puttinu has no issues over the loan, adding that the bank had processed it rapidly so as not to lose the apartments.

Today, Puttinu Cares is a household name and HSBC has allowed it to retain the cartoon character that was originally created for the bank "in the continued spirit of goodwill".

The name Puttinu Cares Children Cancer Support Group will be shortened to Puttinu Cares and the logo may undergo some changes, with the letters HSBC being dropped.

The public's impression was that Puttinu was part of the HSBC Cares for Children Fund and it was feared that the connection would put off others from donating money, Dr Calvagna said.

Puttinu Cares was hoping to raise double the amount it did last year - €466,000 - from its upcoming football marathon.

Dr Calvagna, a consultant paediatric oncologist, took the opportunity to warn against "fraudsters" who knocked on doors to collect money, claiming their kids were suffering from cancer and that they were under his cure.He augured that the support group would start catering for cancer patients up to 18 when the new cancer hospital is opened at Mater Dei Hospital. So far, Rainbow ward's patients, an average of one a month, are aged up to 16.

"They suffer from the same type of cancer as younger children and we have the experience to treat them. Of course, they are young adults, and their characters are different, but Rainbow ward, and Puttinu, would be willing to adapt," he said.