HSBC Bank Malta confirms definitive agreement for sale of majority stake to CrediaBank

HSBC Bank Malta announced Tuesdaythat its majority shareholder, HSBC Continental Europe (HBCE), has entered into a definitive agreement with CrediaBank S.A. for the sale of HBCE’s majority shareholding in the Bank.

In a company announcement referencing an earlier disclosure (HSBC467), the Bank said the agreement follows the completion of HBCE’s French works council consultation process. The transaction formalises a previously announced put option arrangement between HBCE and CrediaBank concerning the potential sale.

As part of the process, HSBC Bank Malta, HBCE and CrediaBank have also entered into a cooperation agreement setting out their respective obligations in relation to the proposed transaction. The sale remains subject to the fulfilment of the necessary corporate and regulatory approvals.

Separately, HSBC Bank Malta announced that it has reached an agreement with the Malta Union of Bank Employees (MUBE) to resolve pending industrial disputes. Under the agreement, following completion of the proposed transaction, the Bank would make a series of ex gratia payments to eligible employees.

Subject to the Bank’s profitability and capital position not having materially deteriorated, HSBC Bank Malta expects its financial contribution towards the total settlement to amount to approximately €10 million.

The Bank said it will continue to keep the market informed in accordance with its obligations under the Capital Markets Rules issued by the Malta Financial Services Authority (MFSA).

In another statement, CrediaBank, said that after its agreement with HSBC, it continues to strengthen its strategic growth in the financial services sector through exclusive discussions with the shareholders of Pantelakis Securities S.A., a leading brokerage company with great legacy in Greece, for the potential acquisition of a 70% stake.

Founded in 1920, Pantelakis Securities S.A. is a long-standing member of the Athens Stock Exchange, offering brokerage and Equity Capital Markets (ECM) services to both private and institutional clients across Greek and international equities, bonds, and derivatives markets. The firm has a strong and enduring relationship with HSBC London and was previously part of the HSBC Group, operating under the name HSBC Securities until 2012.

The potential acquisition aligns with CrediaBank’s strategy to diversify revenue streams and expand into new financial markets, while further enhancing the seamless integration of HSBC Malta into the CrediaBank Group. Pantelakis Securities’ deep expertise and familiarity with HSBC’s operating model are expected to add significant value, drawing on experience gained from prior HSBC integrations in Greece.

This strategic move underscores CrediaBank’s commitment to building a diversified, resilient financial services platform and reinforcing its presence across key segments of the European financial markets. The acquisition transaction of HSBC Malta is in progress, subject to regulatory approvals and is expected to be completed in the beginning of 2027.