The agreement between Credia and HSBC Malta is “one of the greatest successes of the banking sector in Greece”, Aktor CEO, Alexandros Exarchou, said to “N” Forum, noting that Credia has a capitalization of 2.5 billion euros, without including a single euro of deferred tax.
“The money for the acquisition does not burden the public, but Credia’s shareholders. This is a completely sound bank that needed a larger size,” he emphasized.
Double value and momentum in Malta
The final agreement is expected to be signed on September 15, a date on which, as he said, Credia will double its real value to 1.3-1.4 billion euros.
HSBC Malta, the country’s second largest bank, has high liquidity and deposits, which creates conditions for dynamic growth in this market.
At the same time, he noted that the Hellenic Financial Stability Fund (HFSF)’s investment after the agreement will be a milestone, as “Credia will be the first bank from which the Fund will not only get its money back, but will also make a profit.”
Concluding, Exarchou highlighted Credia’s strategic focus: “As a fifth pillar, it is focused on financing small and medium-sized enterprises”.
