Updated with subsequent HSBC Bank Malta statement

APS Bank has released a company announcement that indirectly confirms the exclusive story released on Wednesday (yesterday) by WhosWho.mt, where we revealed that the local bank is at an advanced state of negotiations to acquire HSBC Bank Malta.

APS Bank did not deny the report, simply stating that its actions are guided by "the highest standards of good governance" and "due regard for confidentiality". 

The announcement refers to the reports and HSBC Bank Malta’s two company announcements from Wednesday – the first announcing that its parent company, HSBC Holdings plc, have informed it that it is undertaking a strategic review of the local operation, and the second claiming that it is not aware of the negotiations surrounding its possible takeover by APS Bank.

“While taking note, APS Bank declares that all its actions and dealings are invariably guided by the highest standards of good governance and due regard of its various regulatory obligations, including respect for confidentiality,” it said.

“Furthermore, the Bank confirms that it will keep the market informed through company announcements whenever necessary and, as has been customary for the past years, Market Briefings where appropriate.”

In another announcement issued minutes later, HSBC Bank Malta said that it had received further clarification from its majority shareholder, HSBC Holdings plc: "Having made further enquiries, HSBC Malta has been informed by the majority shareholder that the review process is at an early stage, will consider a range of options and no decisions have yet been made."