Upon completion of the HSBC Malta acquisition, CrediaBank expects to record a one-off gain of at least €235 million, the bank’s CEO Eleni Vrettou told a general meeting of shareholders.

HSBC Continental Europe had agreed to sell a 70.03 per cent stake in the local bank for a total price of €200 million.

Ekathimerini reports that the CEO believes the transaction will double CrediaBanks’ size, and will allow it to become a systemic bank sometime next year, adding that the acquisition is expected to be complete in Q2 2027.

She highlighted that European Central Bank approval is the next step, and that operational integration preparations of the two banks are underway.

During the meeting, the CrediaBank CEO also reiterated the group’s targets for the bank’s recurring net profits to exceed €260 million in 2028.

Earlier this month, Fitch Ratings noted that the successful integration of HSBC Malta by CrediaBank could help lead to the latter getting a ratings upgrade. Fitch had assigned CrediaBank, which is in the process of acquiring HSBC Malta, a long-term rating of BB with a positive outlook, while its long-term deposit rating stands at BB+, one notch below investment grade.