CrediaBank’s potential acquisition of HSBC Malta would mark a transformative milestone for the bank, its shareholders, and its customers, according to its main shareholder and Thrivest Holdings CEO, Alexandros Exarchou.

Mr Exarchou expressed confidence that the deal will be finalised in the coming weeks, ensuring continuity for Maltese clients through a bank backed by two powerful shareholders – Thrivest and the Greek state – while bolstering CrediaBank’s international credibility and regulatory strength in Europe.

Mr Exarchou signalled that CrediaBank viewed Malta not as a side acquisition, but as a central part of its strategy to move up a league in European banking and see CrediaBank double its size.

Beyond doubling its Tangible Book Value, the acquisition would also expand the bank’s balance sheet in record time, strengthening its position “to compete with Greece’s four systemic banks and enhancing its ability to support small and medium-sized enterprises”.

Once the due diligence is wrapped up in the coming weeks, the CEO is optimistic the move will lead to gains for both private and state investors.

With the acquisition, total assets will grow to €15.3 billion from €7.5 billion, and the loan portfolio to €7.3 billion from €4.4 billion. This, Mr Exarchou argued, justified the bank’s €2.5 billion valuation, which could rise further post-transaction.

The Greek state, which owns 36 per cent of CrediaBank through the Hellenic Financial Stability Fund (HFSF), also stands to benefit.

“Without contributing additional capital, HCAP [the Hellenic Corporation of Assets and Participations, a sovereign wealth vehicle that absorbed the HFSF] doubles its investment’s value within a year – originally forecasted to take 10 years – and even earns a profit,” Mr Exarchou said.

Mr Exarchou, who alongside CrediaBank CEO Eleni Vrettou, was involved in direct talks with HSBC believes the bank is well positioned to deliver a banking future that is strong, safe, and backed by solid shareholders, international investor confidence, a clean balance sheet, and the toughest global regulatory standards.