CrediaBank (CREDIA) CMD 2026 summary

Strategic vision, transformation, and growth trajectory

• Recent acquisitions, including HSBC Malta, will double group size and diversify operations, with completion expected by early 2027.

• Emerged as Greece's 5th banking pillar after merging Attica and Pancreta Banks, with rapid market share gains and a clean balance sheet.

• Focus on digital transformation, operational modernization, and disciplined growth, especially in SME and wholesale banking, with a €60 million digital and IT investment plan over three years.

• Completed major capital increases, rebranding, and branch rationalization, with further expansion via the acquisition of HSBC Malta and ongoing negotiations for Pantelakis Securities.

• Integration of systems and digital platforms completed, emphasizing SME and small business lending with a rapid approval process.

HSBC Malta acquisition and combined group outlook

• Acquisition of 70% of HSBC Malta in an all-cash deal, expected to close by Q1 2027, will double group size and deliver immediate earnings accretion.

• HSBC Malta is the second largest bank in Malta, with a 24% market share, strong capital (24.1% CET1), and a retail-focused, low-cost deposit base.

• Expansion into Malta provides access to two high-growth EU markets, enhancing geographic and income diversification, and unlocking significant synergies in funding, cost, and revenue.

• Pro forma FY2025 combined group: €8.2bn net loans, €13.3bn deposits, €16.4bn total assets, and €445m recurring total income.

• Further cost and funding synergies expected, with a focus on digitalization, process optimization, and cross-market product diversification.

Financial outlook and guidance

• Pro forma group assets to exceed €16 billion, with deposits at €13 billion and net loans at €7.2 billion post-Malta acquisition.

• Medium-term targets: NIM at 2.8%, recurring cost-to-income ratio in low 40s, net loans above €11 billion, and CET1 ratio above 14.5%.

• Long-term targets: NIM at 3%, cost-to-income ratio in mid-30s, net loans above €14 billion, and CET1 ratio above 15.5%.

• Recurring net profit expected to exceed €225 million in the medium term and €325 million in the long term, with ROATE above 17% and 18% respectively.

• Share capital increase of up to €300 million planned to support growth and maintain strong capital buffers.