HSBC Bank Malta’s majority shareholder, HSBC Continental Europe, has signed an agreement with Greek bank CrediaBank, paving the way for a potential €200 million sale of its 70.03% shareholding in Malta’s second-largest bank. The transaction, valued at approximately €200 million, involves CrediaBank acquiring HSBC Malta at €0.793 per share. This deal marks a significant step in HSBC Holdings’ strategic review initiated in 2024, aimed at divesting its indirect stake in the Maltese operation.
CrediaBank views this transaction as a strategic opportunity to expand its operations and invest in HSBC Malta’s future. Upon completion, CrediaBank would become the new majority shareholder, requiring a mandatory takeover bid for the remaining shares at €1.44 per share. Minority shareholders can choose to accept the offer or retain their shares, which will remain listed on the Malta Stock Exchange.
The acquisition is subject to several conditions, including regulatory approvals from the European Central Bank, the Malta Financial Services Authority, and the Bank of Greece. HSBC Malta will continue to operate as usual until the transaction is completed, expected by the end of 2026. CrediaBank has committed to maintaining the current management team and keeping employees on the same terms for at least two years.
This deal highlights CrediaBank’s growing presence in southern Europe, following its acquisition of HSBC’s operations in Greece through Pancreta Bank in 2023. The transaction also underscores the progress of the Greek banking sector, with CrediaBank’s CEO, Eleni Vrettou, playing a central role in the bank’s recovery and adoption of a “human-centred” model focusing on governance, digitalization, and customer relationships.
