The Acting Governor of the Central Bank of Malta has revealed that Czechia-based Banka CREDITAS is in its final stages to acquire MeDirect, in a move that could reshape Malta’s banking landscape.
In an interview with Prima News, Acting Governor Alexander Demarco confirmed that “the Central Bank of Malta has in recent months been engaged in discussions with a Czech bank that had shown interest in acquiring a significant credit institution licensed in Malta and directly supervised jointly by the ECB and the Malta Financial Services Authority.”
While Mr Demarco did not name the Maltese institution, MeDirect Bank’s parent company had entered into an exclusivity agreement with Czech bank Banka CREDITAS on 21st August 2024.
The bank had also stated that all previous discussions related to the sale – including a prior agreement with a consortium led by Majoris Holdings – had been terminated.
“We are aware that this Czech bank has already concluded a Share Price Agreement with the current shareholders of the Maltese bank and it is now at a stage where the competent authorities will be commencing a due diligence process with a view to approve, or otherwise, this share transfer by the end of this year,” Mr Demarco stated.
“Should the competent authorities approve this share transfer, we expect enhanced competition in the local banking sector which should be of benefit to local consumers,” he added.
MeDirect Bank is currently owned by MDB Group Limited through its direct shareholder, Medifin Finance Limited.
Banka CREDITAS is part of CREDITAS Group, a privately owned investment company with interests in financial services, real estate, and energy. Founded and owned by Czech entrepreneur Pavel Hubáček, the group is based in the Netherlands and has grown rapidly over the past decade.
Banka CREDITAS itself began as a savings association in 2016 and obtained a full banking licence in 2017. It now serves over 200,000 clients and has expanded aggressively through a series of acquisitions, amassing assets totalling CZK 131 billion (€5.23 billion).
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Nicole Zammit
When she’s not writing articles at work or poetry at home, you’ll find her taking long walks in the countryside, pumping iron at the gym, caring for her farm animals, or spending quality time with family and friends. In short, she’s always on the go, drawing inspiration from the little things around her, and constantly striving to make the ordinary extraordinary.
