CrediaBank announces the acquisition of 70% of Pantelakis Securities S.A.I.F., which joins the CrediaBank Group and is renamed CrediaPantelakis Securities.
The integration of the brokerage firm expands the Group’s capabilities in investment banking and across the full spectrum of investment transactions, strengthening the solutions offered to its customers. The Bank’s customers will be able to take advantage of a wide range of investment products and services, while the brokerage firm’s customers will be able to access the Group’s banking services.
These synergies are expected to strengthen fee income and contribute to the diversification of the Bank’s revenue sources, while with limited capital requirements, these activities allow for more efficient use of the Group’s capital.
With a history beginning in 1920, Pantelakis Securities is one of the oldest brokerage firms in Greece. Its longstanding presence in the Greek capital market, its long-term relationships with Greek and international institutional investors and the expertise of its executives add to the Group an established platform of investment and brokerage services. It provides access to the Greek and international capital markets, investment research, clearing and custody services, while it is a member of the equity and derivatives markets of Euronext Athens.
CrediaPantelakis Securities will continue to operate with its existing management team, leveraging the experience of its executives and its infrastructure. The cooperation with CrediaBank will focus on expanding the company’s operations and customer base, upgrading technology and improving the customer user experience through the development of a unified service model.
CrediaBank CEO, Eleni Vrettou, stated: «The acquisition of Pantelakis Securities is part of our strategic plan to expand CrediaBank’s services and increase the contribution of fees to the Group’s revenues. We want the individuals and businesses that trust us to find more investment solutions through our Group. Pantelakis’ history, expertise and strong presence in the capital markets give us the ability to develop this activity and build a more diversified and resilient growth model».
CrediaPantelakis Securities CEO, Nikos Pantelakis, stated: «For more than a century, Pantelakis Securities has built strong relationships of trust with its clients and deep expertise in the capital markets. Our integration into the CrediaBank Group opens a new chapter of growth for our company today. By combining our experience and specialization with CrediaBank’s capabilities, infrastructure and size, we are creating a strong pillar of investment services in Greece. With respect for our history and our gaze fixed on the future, we aspire for CrediaPantelakis Securities to become a key pillar of the Group’s investment services, creating even greater value for our clients».