The Greek Finance Ministry hailed CrediaBank’s possible acquisition of HSBC Malta as a positive step for both banks.
In a comment to MaltaToday, a spokesperson for the Greek Finance Ministry described the move as one that shows “the strength, resilience, and outward vision” of the Greek financial system.
“It is also a tangible example of the opportunities created by the European Banking Union, enabling cross-border investment, healthy consolidation, and the emergence of stronger, more competitive banks,” the spokesperson added.
The possible takeover was also described as one that strengthens ties between Greece and Malta.
“We are confident that Credia Bank’s experience will deliver benefits for customers, employees, and the economies of both Greece and Malta, while reinforcing the foundations of a truly integrated European financial market.”
HSBC Malta is set to be acquired by CrediaBank after HSBC Holdings named the Greek bank as its preferred bidder.
The two banks have agreed in principle and will now move into detailed negotiations, finalising terms and seeking regulatory approval before signing a binding deal.
In a statement on Friday, HSBC Malta confirmed it had been informed by its parent company about entering exclusive talks with CrediaBank, formerly known as Attica Bank, for its 70.03% majority stake.
CrediaBank, Greece’s fifth-largest bank, rebranded only weeks ago from its former Attica Bank name. Backed by the Bank of Greece and with 36% owned by the country’s sovereign wealth fund, it is majority-controlled (57%) by Thrivest Holding Ltd, a company owned by shipping magnates.
Later on Friday, Finance Minister Clyde Caruana welcomed the development. Caruana said that identifying a buyer who met the requirements of both the seller and the jurisdiction had been a complex process.
He noted that, as the regulatory review proceeds, the buyer’s membership in the Eurosystem is a crucial factor that strengthens the acquirer’s standing and credibility. This is further boosted by a minority stake held by a fellow EU Member State.
He added that the entry of a new and experienced player in the local banking sector should contribute to foster healthy competition and integrate Malta’s financial system within the European market. The minister stressed that the process will remain subject to rigorous regulatory oversight to safeguard stability, strengthen investor confidence, and secure long-term economic benefits.
