The Competition Commission unanimously approved the merger of “CREDIABANK BANKING S.A.” and “EUROPE HOLDINGS S.A.” in a panel decision, No. 921/2026, on 19 October 2026. The transaction will be carried out by the absorption of the second company by the first, under Article 8(3) of Law 3959/2011 and within the meaning of Article 5(2)(a) of the same law.
The concentration concerns the broader markets for insurance services and insurance intermediation, in which CREDIABANK and EUROPE INSURANCE, a subsidiary of EUROPE HOLDINGS, operate. Horizontal overlaps between the companies involved are found mainly in the insurance intermediation markets. The transaction also concerns the vertically related markets for the provision of insurance services through EUROPE INSURANCE and insurance intermediation through CREDIABANK’s branch network.
Taking into account the limited market shares of the companies involved in the relevant markets, which do not give rise to horizontally or vertically affected markets, as well as the presence of significant competitors in those markets, the Competition Commission found that, although the transaction falls within the scope of Article 6(1) of Law 3959/2011, it is not capable of materially changing competitive conditions in the relevant markets concerned.
Accordingly, the concentration under review does not raise serious doubts about its compatibility with the requirements for the functioning of competition in the relevant markets mentioned above, in which the companies involved operate.