Home > Blog > Research > Research Report: HSBC Bank Malta plc
We are upgrading our recommendation from a Hold to a Buy on HSBC Bank Malta plc (“HSBC” or “Group”), with a price target of €1.25 from our previous target of €1.21. The Bank’s performance for FY19 has outperformed expectations, with HSBC reporting positive jaws, despite an environment where the banking industry is being battered with low interest rates; coupled with continuously increasing capital requirements. HSBC completed its restructuring exercise, which in addition to concluding its de-risking exercise, will enable the bank to benefit from ongoing costs savings, placing the bank at a competitive advantage over its local peers. Although these factors will boost the Bank’s bottom line, we remain cognisant of the strong headwinds faced by the local economy, which damaged the country’s reputation and its attractiveness as a financial services hub. This year will be monumental to align the country to international standards, as failure to do so will present unmea

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