HSBC Malta in a statement on the Malta Stock Exchange this afternoon appeared to allay any fears that it could be leaving Malta, pointing out instead to its investment programme.

The statement was issued a day after It-Torca in a front-page story asked whether the bank was about to leave Malta. It based its story on comments by Group CEO Stuart Gulliver, who when speaking about the markets the bank operates in, noted that Malta is very small adding:  “which makes it difficult to explain why on earth are we there... we will sort this in the next year or something similar.”  He also spoke on the bank's focus on commercial banking.

In the statement today, HSBC quoted Mr Gulliver as saying: "Malta is one of our best performing markets and we continue to invest in our Maltese franchise, expanding our range of services and products for our customers.”

Mark Watkinson, HSBC Bank Malta Chief Executive, added: “There are exciting opportunities to develop our business as part of the government’s strategy of expanding the financial services sector in Malta.

"HSBC’s international footprint provides the Bank with a unique competitive advantage in this growth sector.

“Over the last year, HSBC Bank Malta has continued its programme of renovating its branch network, rolling out new ATMs and automated banking facilities, and IT and systems upgrades to the tune of €21 million.”