HSBC Bank Uruguay
 | |
 Branch in Montevideo, Uruguay. | |
Company type | Subsidiary |
|---|---|
| Industry | |
| Founded | 2000 |
| Defunct | 2026 |
| Fate | Acquired by BTG Pactual |
| Headquarters | Luis Bonavita 1266, Montevideo, Uruguay |
Number of locations | 5 (2025) |
Key people | Constantino Gotsis (CEO)[1][2][3] |
| Products | Financial services |
| Revenue | UYU 1,66 billion (2025) (USD 41,6 million)[4] |
| Total assets | UYU 86,1 billion (2025) (USD 2,2 billion)[4] |
| Total equity | UYU 6,88 billion (2025) (USD 172 million)[4] |
| Website | hsbc |
HSBC Bank Uruguay S.A. was the principal HSBC operating company in Uruguay. As of 2025 It was the fifth-largest bank in the country, it provided a full range of banking and financial products and services, including commercial, consumer and corporate banking.[5]
History
[edit]HSBC began its operations in Uruguay in 2000, marking the start of a period of steady growth within the local financial market. Initially, the bank employed around 60 people, a number that has since grown significantly, now exceeding 260 team members.
In 2023, the bank inaugurated a new headquarters in Montevideo, designed with an innovative layout and a business model that departs from traditional banking practices. This transformation was driven by internal workplace trends and customer feedback, aiming to deliver a more efficient and personalized banking experience.
Sale of HSBC operation in Uruguay in 2025
[edit]In 2025, HSBC Latin America announced the sale of its Uruguayan operations to the Brazilian bank BTG Pactual for US$175 million. By the end of 2024, HSBC Uruguay operated five branches across the country, managed total assets of US$1.8 billion, and maintained a loan portfolio valued at US$1.1 billion.[6][7][8]
See also
[edit]References
[edit]- ^ La Asociación de Bancos Privados del Uruguay nombró al CEO de HSBC como su nuevo presidente
- ^ HSBC Uruguay nombra a Constantino Gotsis como su nuevo CEO
- ^ Entrevista al CEO de HSBC Uruguay: la visión del banquero argentino sobre el país, la IA y la crisis de Caja Bancaria
- ^ a b c "Financial Statements For The Financial year Ended December 31,2025 and Auditos' Report".
- ^ Banca privada de HSBC Uruguay se enfoca en nueva clase de clientes
- ^ "BTG Pactual compra HSBC Uruguai por US$ 175 mi e reforça expansão internacional". Bloomberg Línea Brasil (in Brazilian Portuguese). 2025-07-28.
- ^ "El banco HSBC acuerda vender todo su negocio en Uruguay al brasileño BTG Pactual por US$ 175 millones". El País (in Spanish). 2025-07-28.
- ^ "BTG Pactual faz mais uma aquisição no exterior: o HSBC no Uruguai, por US$ 175 milhões". O Globo (in Brazilian Portuguese). 2025-07-28.
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