VALLETTA (MALTA) (ITALPRESS/MNA) – A landmark agreement has been reached for Greece’s CrediaBank to acquire HSBC Malta, a move described by Greek Finance Minister Kyriakos Pierrakakis as “a milestone for Greece’s banking sector.”
The deal, announced on Friday, positions CrediaBank — formerly Attica Bank — as the preferred bidder, edging HSBC closer to its planned exit from Malta as part of a broader strategy to retreat from smaller markets and refocus on Asia.
Pierrakakis welcomed the agreement, calling it proof of the resilience and outward vision of Greece’s financial system. He also highlighted its significance within the European Banking Union, which he said fosters cross-border investment, healthy consolidation, and the rise of more competitive banks.
“This transaction strengthens the bonds between Greece and Malta, deepening bilateral relations and contributing to closer cooperation across Southern Europe and the Mediterranean,” Pierrakakis said.
Malta’s Finance Minister Clyde Caruana also praised the deal, describing it as a “significant development” that will bolster competition in Malta’s banking sector and reinforce its integration within the European market. He stressed that the buyer’s membership in the Eurosystem, together with the Greek government’s minority stake, underlined the bank’s credibility.
While both sides hailed the agreement, the process remains subject to regulatory approval. Advisors are now expected to negotiate finer details before the takeover can be finalized, a process that could take several months.
CrediaBank only recently rebranded from Attica Bank and is expected to complete its transition to the new identity by October. The deal marks one of the most significant cross-border banking moves in Malta in recent years, with stakeholders predicting long-term benefits for customers, employees, and the wider economy.
– Photo IPA Agency –
(ITALPRESS)
