CrediaBank S.A. confirmed that it has entered into exclusive discussions with HSBC Holdings plc and has been identified as preferred bidder regarding the potential acquisition of HSBC’s 70.03% shareholding in HSBC Bank Malta p.l.c.
No agreement has been reached at the time of publication of this announcement and there is no guarantee that the ongoing discussions will result in the execution of a definitive transaction agreement.
Any potential transaction would be subject to a number of conditions including regulatory approval from the Malta Financial Services Authority (MFSA), Bank of Greece and the European Central Bank, a process that is expected to take several months to complete.
Pierrakakis: “It is a milestone”
The Minister of National Economy and Finance, Kyriakos Pierrakakis, said that the agreement for the acquisition of HSBC Malta by the Greek Credia Bank is a milestone for the Greek banking sector.
Specifically, as he pointed out in a written statement: “We strongly support the agreement for the acquisition of HSBC Malta by the Greek Credia Bank. This is an important step for both institutions and a milestone for the Greek banking sector, which demonstrates the strength, resilience and extroverted orientation of our financial system.”
