09 November 2005

The Web
Business Today

Share shop driving bank’s growth

Over the past five years HSBC’s ShareShop has seen an impressive growth in its business based on various innovative factors, which has made the purchase and sale of securities, listed both in Malta and on international markets, very convenient and efficient for customers.
These initiatives include the ability to conduct business by phone, by direct access through ShareShop sale points located in various HSBC branches and the possibility for customers to place their instructions regarding securities with their local branch.
These new and customer focused services from HSBC are following fast on changes in investor sentiment in Malta. Customers are more aware of the potential that the local stock market offers. In view of this interest the Malta Stock Exchange Index registered substantial gains over the past few years. In 2003 the index gained 13.6%, and surged an impressive 44.4% in 2004. In the first nine months of 2005 the MSE Index continued on this trend and grew by another 28.3%. As at 30 September 2005, the local index stood at 3937.681 in comparison to 1870.914 as at 30 December 2002 - an increase of 110% over the past three years.
Customers may access local and international stockbroking services through a variety of means namely at any local branch or at one of the regional bespoke ShareShops within HSBC branches at Valletta, Sliema, Mosta, Birkirkara, Paola and Gozo. Registrations may be done by calling on Tel: 2597 2209 / 2597 2220/ 2597 2231 or by visiting the main ShareShop office in the main ShareShop office in Republic Street Valletta.
HSBC’s ShareShop is also supported by a Custody department, which monitors the portfolios of investors and ensures that all dividend payments due are issued expeditiously. The Custody Unit also acts as a nominee for those who invest in bonds and provides the necessary documentation to cover the withholding tax issues. Portfolio valuations are provided twice yearly (or when necessary) to all customers.
Investors also benefit from dealing fees which are amongst the most competitive in Malta. Shareholders of HSBC Bank Malta enjoy a discount of 25% on the normal fees.
“HSBC’s ShareShop has always placed customer service at the very heart of its operations. Drawing on both our local and global knowledge to furnish customers with the very latest information and real-time prices on which to base decisions. As you’d expect orders are executed within minutes via HSBC’s Stockbroking company and followed up with all the necessary client documentation to ensure a ‘one-stop service’. It is these abilities to act almost immediately under one brand, centering around the customer and through a variety of different channels that has see our business grow threefold over a brief time period,” said Ivan Grech, Manager at HSBC’s ShareShop, Valletta.

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