HSBC Bank Costa Rica: Difference between revisions

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	==History==		==History==
	In November 2006, HSBC acquired ], the leading banking group in ] and gave HSBC access to new markets, with offices in Colombia, Costa Rica, El Salvador, Honduras, Nicaragua and Panama.		In November 2006, HSBC acquired ], the leading banking group in ] and gave HSBC access to new markets, with offices in Colombia, Costa Rica, El Salvador, Honduras, Nicaragua and Panama.{{citation needed\|date= December 2024}}

	Following the acquisition, HSBC rebranded Banistmo's operations in Costa Rica under the HSBC name. By 2011, HSBC Costa Rica served retail, commercial, and corporate banking clients through 29 branches, with total assets amounting to approximately US$1.4 billion as of September 30, 2011.<ref name="HSBC Sale 2012">{{cite web \|title=HSBC agrees the sale of its business in Costa Rica, El Salvador and Honduras \|url=https://www.hsbc.com/-/files/hsbc/investors/results-and-announcements/stock-exchange-announcements/2012/January/sea-120124-costa-rica-1.pdf \|website=HSBC \|access-date=29 December 2024}}</ref>		Following the acquisition, HSBC rebranded Banistmo's operations in Costa Rica under the HSBC name. By 2011, HSBC Costa Rica served retail, commercial, and corporate banking clients through 29 branches, with total assets amounting to approximately US$1.4 billion as of September 30, 2011.<ref name="HSBC Sale 2012">{{cite web \|title=HSBC agrees the sale of its business in Costa Rica, El Salvador and Honduras \|url=https://www.hsbc.com/-/files/hsbc/investors/results-and-announcements/stock-exchange-announcements/2012/January/sea-120124-costa-rica-1.pdf \|website=HSBC \|access-date=29 December 2024}}</ref>

Revision as of 06:09, 29 December 2024

This article is about the bank in Costa Rica. For the global HSBC Group, see HSBC. For other individual entities of the group, see HSBC Bank.

Banco HSBC (Costa Rica), S.A.

Company type	Subsidiary of HSBC Holdings plc
Industry	Finance and Insurance
Founded	2006
Defunct	2012
Headquarters	San José, Costa Rica
Key people	Francisco F. Coccaro, CEO
Products	Financial services

Banco HSBC (Costa Rica), S.A. was a subsidiary of HSBC Holdings plc headquartered in San José, Costa Rica. The bank provided personal banking and corporate banking services to Costa Rica. In 2012 Banco Davivienda acquired HSBC Costa Rica and renamed it as Banco Davivienda Costa Rica.

History

In November 2006, HSBC acquired Grupo Banistmo, the leading banking group in Central America and gave HSBC access to new markets, with offices in Colombia, Costa Rica, El Salvador, Honduras, Nicaragua and Panama.

Following the acquisition, HSBC rebranded Banistmo's operations in Costa Rica under the HSBC name. By 2011, HSBC Costa Rica served retail, commercial, and corporate banking clients through 29 branches, with total assets amounting to approximately US$1.4 billion as of September 30, 2011.

In January 2012, as part of a strategic plan to streamline its operations and focus on core markets, HSBC announced the sale of its businesses in Costa Rica, El Salvador, and Honduras to Banco Davivienda for US$801 million. The sale in Costa Rica was worth US$300 million.

In December 2012, the transaction was completed. Banco Davivienda took over the HSBC Costa Rica operations and rebranded them to Banco Davivienda (Costa Rica) S.A., Davivienda Puesto de Bolsa (Costa Rica) S.A and Davivienda Sociedad Agencia de Seguros (Costa Rica) S.A.

v t e HSBC
Origin	The Hongkong and Shanghai Banking Corporation
Board of directors	Kathleen Casey Laura Cha Henri de Castries Jonathan Evans David Nish Noel Quinn Mark Tucker
Brands	HSBC Expat HSBC InvestDirect HSBC Premier HSBC Private Bank PayMe Proa
Principal local banks	Australia Bangladesh Bermuda Brazil Chile Mainland China Egypt Continental Europe Germany Hong Kong India Indonesia New Zealand Malaysia Malta Middle East Mexico Monaco Philippines Poland Saudi Arabia Singapore South Korea Sri Lanka Japan Taiwan Thailand Turkey United Kingdom United States
Subsidiary banks	First Direct (UK) Hang Seng Bank (Hong Kong) (63.04%) M&S Bank (UK)
Minority stakes and JVs	Bank of Communications (19%) Canara HSBC Life Insurance (26%) HSBC Saudi Arabia (60%) SABB (40%) Techcombank (15%)
Predecessor companies	Bank of British Columbia Barclays Bank Canada Beneficial Continental Bank of Canada Crédit Commercial de France Greenwich Savings Bank Grupo Banistmo Guyerzeller Household Imperial Bank of Persia Lloyds Bank Canada Marine Midland Bank Midland Bank Republic New York Samuel Montagu & Co. Williamsburgh Savings Bank
Former local banks	Argentina Armenia Canada Costa Rica Georgia Greece Panama Russia
Former subsidiaries	Charterhouse Capital Partners HSBC Rail
Scandals	Libor scandal Swiss Leaks more
Category Commons

References

^ "HSBC agrees the sale of its business in Costa Rica, El Salvador and Honduras" (PDF). HSBC. Retrieved 29 December 2024.
^ "Banco Davivienda entra a Costa Rica con la compra del banco HSBC". Revista E&N. Retrieved 29 December 2024.

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