ArmInfo. Ardshinbank, a leading Armenian bank, has submitted a bid for HSBC Malta, according to international media outlets. The bank itself does not comment on its participation in the purchase of HSBC's Maltese subsidiary.
Last November, Ardshinbank CJSC announced the completion of the acquisition of 100% of the shares of HSBC Bank Armenia CJSC (HSBC Armenia). The integration process lasted almost 10 months, Ardshinbank is the only company in Armenia that has ratings from three leading global rating agencies: Standard & Poor's (BB- with a Stable outlook), Moody's (Ba3 with a Stable outlook) and Fitch (BB- with a Stable outlook). Ardshinbank's ratings are equal to Armenia's country rating, which is the best metric for assessing a private institution's rating.
Ardshinbank has over 400,000 customers across its 71 branches in Armenia. In 2024, the bank registered a profit of $338 million (around ?289 million). It is believed to be one of two Eastern European banks currently vying for HSBC's Maltese operations. The identity of the other bank is not yet known, according to media reports.
HSBC Malta's eventual buyer will need to be green-lighted by HSBC's upper echelons, as well as by the Maltese financial regulator and the European Central Bank. However, Ardshinbank's bid is unlikely to face any obstacles from HSBC's end, given that it's takeover of HSBC Armenia was only recently approved and completed.
