HSBC Malta said that the sale of 70.03% of its shareholding to CrediaBank would be for the price of €200 million, a company announcement by the Maltese bank on the stock exchange shows.
HSBC Bank Malta said that it has signed an acknowledgment of a put option agreement between HSBC Continental Europe (“HBCE”) and CrediaBank S.A. (formerly known as Attica Bank) regarding the potential sale of HBCE’s majority shareholding in the Bank. The agreement provides the terms under which HBCE would sell its 70.03% shareholding to CrediaBank.
The terms of the Potential Transaction contemplate CrediaBank paying a price per share of €0.793 for HBCE’s entire shareholding in the HSBC Bank Malta, amounting in total to €200 million.
Following the potential transaction, CrediaBank would become the majority shareholder in the bank and would launch a mandatory takeover offer for the remaining shares held by the minority shareholders, who would have a choice about whether to accept the offer or retain their shares, HSBC Bank Malta said in its company announcement.
“HSBC Bank Malta has been informed that this Potential Transaction represents a strategic opportunity for CrediaBank, and that it is well-placed to invest in and grow the Bank. The Bank has also been informed that CrediaBank will retain the Bank’s management team and intends to maintain the Bank’s listing on the Malta Stock Exchange. The Bank has been assured that CrediaBank has committed to retain the Bank’s employees on materially the same terms for a period of at least 2 years from the completion of the Potential Transaction. The Potential Transaction is expected to be completed by the end of 2026, subject to obtaining corporate and regulatory approvals, and the parties’ arrangements to implement the Potential Transaction.”
The potential transaction is subject to an information and consultation process with HBCE’s employee works councils in France, in accordance with HBCE’s obligations under French labour law, the company announcement read.
“If, following the finalisation of the information and consultation process, HBCE decides to proceed with the Potential Transaction, then: HBCE and CrediaBank will enter into a definitive agreement for the sale and purchase of HBCE’s shareholding in the Bank; and the Bank (HSBC Malta), HBCE and CrediaBank will enter into a cooperation agreement to govern their respective obligations in relation to the Potential Transaction. The Potential Transaction then would be submitted to relevant regulators, including the European Central Bank, the Malta Financial Services Authority (MFSA) and the Bank of Greece for approval.”
CrediaBank is the fifth largest bank in Greece by total assets serving around 300,000 active corporate and retail customers through a total of 65 retail banking branches and 5 business centres across the country. It acquired HSBC Greece, through Pancreta Bank, in 2023.
CrediaBank, in a statement, confirmed that it has entered into a put option agreement with HSBC Continental Europe.
“HSBC Malta is a high-quality franchise with leading market positions in Malta’s attractive and growing banking market. Its strong local customer franchise serves ~200,000 clients with banking and insurance products across mortgages, personal loans, SME loans and life & non-life insurance products. The Bank’s wealth management business successfully caters to the private banking needs of Malta’s affluent population of citizens and expats. As at 30th June 2025, HSBC Malta had total assets of €7.9bn, customer deposits of €6.2bn and generated a return on equity of 12.7%. The CET-1 ratio stood at 22.5% and the NPE ratio at 2.5%. The Potential Transaction would accelerate the delivery of CrediaBank’s growth ambitions, through doubling its assets, and expanding its operations to a new and attractive market outside of Greece. The complementary nature of the two banks’ lending focus would result in a more balanced loan book made up of high-quality retail and SME exposures across the Group’s dual operating markets,” CrediaBank said.
It said that if the Potential Transaction proceeds, upon completion, CrediaBank’s regulatory capital ratios are expected to remain well above their respective regulatory requirements. “CrediaBank expects the Potential Transaction to be capital neutral and financed entirely from own liquidity and capital resources.
CrediaBank’s CEO Eleni Vrettou stated: “We are excited about the prospect of bringing HSBC Malta into the CrediaBank family, and to partner with its proven local management team and entire employee base to unlock substantial value for our clients and all stakeholders of CrediaBank and HSBC Malta. We see significant value creation opportunities, benefiting from the prospects of the Maltese economy, while leveraging at the same time on the best practices of both institutions in the areas of retail lending, wealth management, insurance, but also in commercial and corporate banking. This is a transaction that we are confident shall mark a significant milestone for the delivery of CrediaBank’s ambitious growth plan, while making a positive impact to all our stakeholders, whether that is our customers, our employees, the minority shareholders, or our regulators both in Malta and Greece.”
“Our priority remains to ensure a smooth integration of Malta’s operations, while directing significant investment to Malta given its growth prospects by introducing new products and upgrading the existing infrastructure. Maintaining international connectivity for our customers in Malta and giving access to new product capabilities is at the forefront of our strategy to develop the local franchise. Furthermore, our commitment to the employees of HSBC Malta is also unequivocal and we wish to work hand in hand with them as an integral part of the Bank’s success story in order to deliver our promise for growth to our customers and shareholders, while continuing to protect our Business. The proposed structure that we have agreed with HSBC also seeks to ensure that minority shareholders’ interests are duly protected, enjoy full transparency and have the option for a fair and equitable price.”
“Notwithstanding the above, it is our firm conviction that minority shareholders will substantially benefit in the future from the further value creation and consistent dividend yield as we continue to invest and modernize the Bank and achieve the revenue growth synergies between the two institutions across geographies. The Potential Transaction creates a group of more than €15bn in assets and €12bn in deposits, c. 400k customers across the two countries, while it significantly enhances the bottom-line profitability and accelerates the creation of capital and real value for all our shareholders. We are proud to enter into this Potential Transaction and our pledge is to continue to serve the Maltese economy by building longstanding customer relationships, having a strong community focus and dedicated employee commitment, while collaborating closely with the regulatory authorities,” he said.
