HSBC México

**HSBC Mexico S.A.** It is the main company of HSBC Holdings plc in Mexico. It is one of the five largest banks in the country, with 964 branches and more than 5,500 ATMs. HSBC purchased Banco Internacional SA known as **Bital** in November 2002. A few years earlier Bital participated in the controversial Fobaproa, which rescued the nation's banks from the 1994 crisis.

The HSBC Mexico headquarters is in the HSBC Tower, on Paseo de la Reforma near the Ángel de la Independencia in Colonia Cuauhtémoc, Cuauhtémoc, in Mexico City, about 2,800 workers work in the tower. 40,000 m².

## Rebranding

On 28 January 2004, the **Bital** (International Bank) branch network was rebranded as HSBC overnight. HSBC saturated newspapers, television and radio, bought advertising space on every luggage cart at the Mexico City International Airport, on the sides of taxis, buses, on the plastic bags in which newspapers are delivered, in flower stands, next to tall buildings. That same day, Bital customers received new credit cards with the HSBC logo and notification of changes to their account numbers.

## Operations

Under the HSBC brand, the bank maintains a network of 964 branches nationwide, with the longest service hours at the counter (9:00 AM-5:00 PM). An innovation introduced in the Mexican market was the first fixed-rate mortgage, which was an uncommon product in Mexico, but was chosen to attract low-income customers affected by the foreclosures that followed the 1994-95 crisis.

## ATM network

HSBC was the first Mexican bank to offer pre-approved personal loans through ATMs, and also has a program called "Niños con Futuro" ("Children's with a future"), which allows customers to make charitable donations through ATMs; an idea that has been embraced by the UK's HSBC Bank. HSBC Mexico also deploys advanced computer modeling techniques to predict usage patterns at ATMs and ensure that they are in better condition for use and therefore generate profit.

## Regional Operations

As a principal member of the HSBC Group, HSBC Mexico is responsible for other operations in the area, principally HSBC Bank (Panama) S.A., HSBC Colombia S.A. formerly Grupo Banistmo, HSBC Costa Rica through the acquisition of the local bank Banex, HSBC El Salvador by the acquisition of the local bank Banco Salvadoreño and HSBC Honduras through what was BGA.

## Branch Closings and Money Laundering

In a hearing before the Permanent Subcommittee on Investigations of the United States Senate, which is investigating possible money laundering at HSBC, David Bagley, head of the institution's complaints office, considered that it was “the right time” for another person take your place. In 2012, the former president of HSBC Mexico, Sandy Flockhart, and the until then President of HSBC, Michael Geoghegan, also resigned a few months before an agreement between HSBC and the US authorities. HSBC paid a fine of $1.92 billion.

Meanwhile, directors of the bank with headquarters in London, members of the Senate subcommittee announced the decision to close all accounts of Mexican clients that the institution has been maintaining in the Cayman Islands.

## Other websites

- HSBC Bank Mexico

## Infobox (company)

- **name**: HSBC México
- **logo**: HSBC_logo_(2018).svg
- **image**: HSBC_Tower,_Mexico_City.jpg
- **logo size**: 225px
- **type**: Subsidiary
- **location**: HSBC Tower, Mexico City, Mexico
- **key people**: Jorge Arce (CEO)
- **num employees**: 22,000
- **industry**: Finance and Insurance
- **products**: Financial services
- **parent**: HSBC