Greece’s Attica Bank has confirmed its interest in HSBC Malta, indicating that the race to take over Malta’s second-largest financial institution is once again heating up.

“Attica Bank confirms that it has expressed interest in participating in the open procedure for the sale of HSBC Malta’s shares, and acquiring the shares,” it said.

The news comes months into an apparent lull in negotiations for the sale of HSBC Bank Malta, in which several bidders withdrew their interest. The withdrawals are understood to be largely related to opposition shown by the country’s authorities, which are not keen on seeing the departure of a globally recognised brand.

Interest in HSBC Malta has picked up again in recent weeks after the leading banks in Georgia and Armenia, respectively, confirmed their bids.

However, with both banks coming from outside the EU and the eurozone, they face significant hurdles to any eventual takeover.

The bid by Attica Bank has reportedly been well-received by Maltese authorities after the Greek Government lobbied on its behalf.

Attica Bank is the fifth-largest bank in Greece.

In comments made to WhosWho.mt, HSBC Group said it is still “reviewing its strategic options with respect to its majority shareholding in HSBC Malta.”

It continued: “The review process is ongoing, will consider a full range of options and no decisions have yet been made.

“It is business as usual for HSBC Malta and our focus continues to be that of serving our customers to the highest standards.”