CrediaBank: Change of business plan and completion of HSBC Malta acquisition at the end of 2026

The acquisition of HSBC Malta prompts a strategic displacement to CrediaBank’s concern plan, with the transaction expected to beryllium completed successful the 4th fourth of 2026, according to CrediaBank CEO Eleni Vrettou.

Vrettou besides provided much details connected the transaction, while noting that the transaction will beryllium superior neutral and will beryllium financed wholly from CrediaBank’s ain resources astatine the clip of its completion. The CEO emphasized that the transaction is still expected to person regulatory support from the Malta Financial Services Authority (MFSA), the European Central Bank and the Bank of Greece.

Timeline

Giving a wide timeline of the acquisition and the adjacent steps, the CEO of the Greek slope stated that the transaction is presently successful the accusation and consultation process with the Works Council of HSBC Continental Europe successful France.

After the completion of the accusation and consultation process successful France, and if HSBC decides to proceed with the transaction, a definitive statement will beryllium concluded for the merchantability and acquisition of HSBC’s stake successful the bank, the CEO said, among different things.

In addition, a practice statement is to beryllium concluded to modulate the respective obligations of the two banks during the play successful which regulatory support will beryllium sought and earlier the completion of the transaction. In fact, the regulatory support process is expected to statesman instantly aft the signing of the definitive agreement.

After completing each regulatory approvals, “we will motorboat the mandatory nationalist offering to number shareholders astatine the existent price,” Eleni Vrettou said, adding that the acceptance play for the mandatory nationalist offering is expected to past astir 3 weeks.

Taking this into account, the transaction is expected to beryllium completed successful the 4th fourth of 2026, with the signing and commencement of the transitional services statement with HSBC by the extremity of December 2026 astatine the latest.

However, it was pointed retired that the regulatory support process for the acquisition of HSBC Malta has already begun, with the process requiring the Greek slope to submit a caller concern program to the regulators. This is “still successful mentation and has not yet been finalized,” the Greek CEO stated, adding that it is expected to beryllium completed earlier the extremity of the month.