The Malta Union of Bank Employees urged for "transparency and fairness... in the interest of employees and the country" after HSBC's parent company announced it would be carrying out a "strategic review" of its indirect 70.03% shareholding in HSBC Bank Malta.

Rumours of HSBC exiting the Maltese market have swirled for years, fuelled by the global bank's gradual pivot away from Europe and smaller markets towards Asia.

On Monday the MUBE said while it reserved the right to do so, it would not enter into the merits of whether HSBC should be acquired by or merged with a foreign entity or a Maltese one or whether it was dissolved and its assets sold.

"These are decisions to be taken at the corporate level, though it expects that all decision makers act with the utmost respect for their own governance and corporate social responsibilities.

"MUBE’s interest is mainly people-focused and clearly not business-driven," it added.

However, the MUBE said it will proactively seek to protect the interests of its members and employees of all entities concerned.

Impacted employees, it said, had a strong and legitimate expectation that their rights and, more importantly, their dignity, were respected to the fullest.  

"The MUBE, consistently with its ethos, will place itself front and centre to ensure this, giving due consideration to nothing other than the interests of all employees concerned. 

"The MUBE calls upon all concerned to ensure that transparency and fairness, in the widest sense of the words, are tangibly practised in the interests of the employees and the country as a whole and pledges its full cooperation with everyone who shares the same values."