one of the ten largest banks in the country, providing a full range of banking and financial products including personal, corporate, investment and private banking, general and life insurance, retirement services, personal and auto loans, credit cards and bank accounts. In Argentina, HSBC Group includes HSBC Bank Argentina, HSBC Seguros S.A., HSBC-New York Life, HSBC Administradora de Inversiones S.A. SGFCI and HSBC Participaciones S.A. (Argentina). The Bank serves more than 1.2 million customers through a network of about 120 branches across Argentina. As of September 30, 2011, HSBC Bank Argentina reported assets of Ar$28.0 billion and loans of Ar$15.1 billion. The Bank was formed in 1903 and began to operate as a commercial bank in 1978 under the name of Banco Roberts. In 1987, Midland Bank purchased a stake in Banco Roberts. HSBC Group acquired Midland Bank in 1992 and after the Group acquired the remaining shares in the Roberts Group holding company in 1997, and re-named it HSBC Argentina Holdings SA