HSBC Bank Malta p.l.c. has announced that its majority shareholder, HSBC Continental Europe (HBCE), has signed an acknowledgment of a put option agreement with Greek bank CrediaBank S.A., paving the way for a potential €200 million sale of its 70.03% shareholding in Malta’s second-largest bank.

The agreement marks the latest step in the strategic review initiated by HSBC Holdings plc in 2024, which sought to divest its indirect stake in the Maltese operation. According to the terms, HBCE would sell its shares to CrediaBank at €0.793 per share, valuing the transaction at approximately €200 million.

If completed, CrediaBank would become the new majority shareholder of HSBC Malta and, under local regulations, be required to launch a mandatory takeover bid for the remaining shares. Minority shareholders would be offered €1.44 per share, calculated under the “equitable price” formula defined by the Malta Financial Services Authority’s Capital Markets Rules, based on trading up to 15 September 2025. Shareholders may choose to accept the offer or retain their shares, which will remain listed on the Malta Stock Exchange.

Terms and Assurances

The Bank said it had been assured that CrediaBank intends to retain HSBC Malta’s current management team and keep the company’s stock exchange listing. Furthermore, CrediaBank has committed to maintain all employees on materially the same terms for at least two years following completion.

The transaction is subject to several conditions. HBCE must first complete an information and consultation process with employee works councils in France, as required by French labour law. A definitive agreement would then need to be signed between HBCE and CrediaBank, followed by regulatory approvals from the European Central Bank, the Malta Financial Services Authority, and the Bank of Greece.

Completion is expected by the end of 2026, provided all conditions are met.

Dividends and Capital Structure

In parallel, HSBC Malta announced its intention to resume dividend payments on a quarterly basis from January 2026, at a payout ratio of 60% of consolidated profit after tax. These dividends will remain subject to board approval and regulatory clearance.

As part of the transaction, CrediaBank would also acquire the rights and liabilities linked to HSBC Group loans provided to HSBC Malta under Tier 2 and MREL frameworks.

Who is CrediaBank?

CrediaBank is the fifth-largest bank in Greece by total assets, serving around 300,000 corporate and retail customers. It operates 65 retail branches and five business centres across the country, offering a wide range of services including loans, deposits, investment products, insurance, and stock trading.

The bank has expanded aggressively in recent years, including its acquisition of HSBC’s operations in Greece through Pancreta Bank in 2023. Its bid for HSBC Malta represents another significant step in its strategy to strengthen its presence in southern Europe and broaden its international credibility.

Strategic Opportunity

HSBC Malta said it has been informed that CrediaBank views the transaction as a “strategic opportunity” to grow the Maltese bank’s operations and invest in its future. All parties stressed the importance of maintaining stability for shareholders, customers, and employees throughout the process.

Until the transaction is completed, HSBC Malta will continue to operate as usual, and updates will be communicated in line with market disclosure rules.

The announcement represents one of the most significant banking transactions in Malta in recent years and, if approved, will see the exit of HSBC after decades of presence in the country, to be replaced by one of Greece’s emerging financial institutions.