CrediaBank expects a one-off gain of at least €235 million once its acquisition of HSBC Bank Malta completes in the second quarter of 2027, chief executive Eleni Vrettou told the bank's general meeting of shareholders on Friday.
The deal will double CrediaBank's size and let it become a systemic bank in 2027, Vrettou said. She also restated the group's targets for recurring net profits above €260 million in 2028 and €360 million in 2030.
Vrettou told shareholders the transaction remains on schedule, with completion still expected in the second quarter of 2027. The next step is approval from the European Central Bank, anticipated before the end of the year. Preparations for the operational integration of the two banks are moving ahead alongside the legal merger process.
System integration testing of core systems has already started and will continue under strict protocols over the coming months until the transaction closes. Once the acquisition is done, CrediaBank will press on with its business plan, concentrating on expanding its retail banking products and building up its corporate lending.
HSBC Bank Malta plc is the Maltese subsidiary of the British banking group HSBC, so the purchase carries the Greek lender into a new market. CrediaBank reported record recurring operational profits of €53.6 million for the first half of 2026, up 45% on the same period a year earlier, as it prepared for the Malta deal. The bank is regulated and supervised by both the Malta Financial Services Authority and the European Central Bank.
The Malta purchase is not CrediaBank's only recent move. Earlier in October it completed the acquisition of a majority stake in Pantelakis Securities. Fitch assigned CrediaBank its first rating, of BB with a positive outlook.
