HSBC Bank Uruguay

HSBC Bank Uruguay S.A.

Branch in Montevideo, Uruguay.
Company type	Private
Industry	Finance and Insurance Pension funds
Founded	2000
Headquarters	Luis Bonavita 1266, Montevideo, Uruguay
Key people	Constantino Gotsis (CEO)[1][2][3]
Products	Financial services
Website	hsbc.com.uy

HSBC Bank Uruguay S.A. is the principal HSBC operating company in Uruguay. It is 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.^[4]

History

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

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.^[5][6][7]

References

1. La Asociación de Bancos Privados del Uruguay nombró al CEO de HSBC como su nuevo presidente
2. HSBC Uruguay nombra a Constantino Gotsis como su nuevo CEO
3. Entrevista al CEO de HSBC Uruguay: la visión del banquero argentino sobre el país, la IA y la crisis de Caja Bancaria
4. Banca privada de HSBC Uruguay se enfoca en nueva clase de clientes
5. "BTG Pactual compra HSBC Uruguai por US$ 175 mi e reforça expansão internacional". Bloomberg Línea Brasil (in Brazilian Portuguese). 2025-07-28. Retrieved 2025-07-28.
6. "El banco HSBC acuerda vender todo su negocio en Uruguay al brasileño BTG Pactual por US$ 175 millones". EL PAIS (in Spanish). 2025-07-28. Retrieved 2025-07-28.
7. "BTG Pactual faz mais uma aquisição no exterior: o HSBC no Uruguai, por US$ 175 milhões". O Globo (in Brazilian Portuguese). 2025-07-28. Retrieved 2025-07-28.