The acquisition of Europe Insurance is expected to boostCrediaBank’scapitalbyapproximately 140 basis points, according to Eleni Vrettou, who briefed analysts on the first-quarter results.
Furthermore, the transaction is expected to generate significant revenue synergies, with pre-tax synergies projected to reach €17 million on an annual basis by 2028. The bank will not seek theDanish compromise, as emphasized by the bank’s management.
The estimate is that the agreement will have a positive impact on earnings per share as early as 2027, with an increase of approximately 8%, while in the medium term, a double-digit boost in the group’s net profitability is expected.
The bank’s main shareholders,Thrivest Holding and Hellenic Holdings and Assets, will remain the group’s largest shareholders following the transaction, while the free float is expected to increase to nearly 40%. The management team ofEurope Holdingwill continue to manage the insurance business following the completion of the agreement.
Management notes that the first-quarter results confirm the bank’s growth strategy, centered on credit expansion, strengthening core revenues, and a significant improvement in profitability.
Despite the fact that credit expansion in the first quarter of the year already reached €500 million, theguidance for theyear remains unchanged, with credit expansion projected at €1 billion for the full year.
Malta
CrediaBank is proceeding according to schedule with the acquisition ofHSBC Malta, aiming to complete the transaction and create a strong regional banking group. The process began in December 2025 with the signing of the share purchase agreement (SPA), while in January 2026 the relevant application was submitted to the Maltese supervisory authorities. In April 2026, the Target Operating Model was finalized, and the bank is now in the operational preparation phase.
Approvals from the MFSA and the ECB are expected in the fourth quarter of 2026, and the legal and operational merger is scheduled for April 2027.