CrediaBank completes acquisition of majority stake in Pantelakis Securities

CrediaBank announces the completion of its acquisition of a 70% stake in Pantelakis Securities. The company joins the CrediaBank Group and is renamed CrediaPantelakis Securities.

CrediaBank, is the Greek bank that is confirmed to acquire the 70.03% of HSBC Malta subject to all required regulatory approvals.

The addition of the brokerage expands the Group’s capabilities in investment banking and across a broad range of investment transactions, enabling it to offer more solutions to its customers. CrediaBank customers will be able to access a wider range of investment products and services, while brokerage clients will be able to access the Group’s banking services. These opportunities are expected to increase fee income and diversify the Bank’s revenue streams. The relatively low capital requirements of these activities will also support more efficient use of the Group’s capital.

Founded in 1920, Pantelakis Securities is one of Greece’s oldest brokerage firms. Its longstanding presence in the Greek capital market, relationships with Greek and international institutional investors, and the expertise of its people bring an established investment and brokerage services platform to the Group. The company provides access to Greek and international capital markets, investment research, clearing and custody services, and is a member of Euronext Athens’ equity and derivatives markets.

CrediaPantelakis Securities will continue to operate with its existing management team, drawing on the experience of its people and its established infrastructure. Its work with CrediaBank will focus on growing the company’s business and client base, upgrading its technology and improving the client experience through a unified service model.

CrediaBank CEO Eleni Vrettou said: “The acquisition of Pantelakis Securities is part of our strategy to broaden CrediaBank’s services and increase the contribution of fee income to Group revenue. We want the individuals and businesses who place their trust in us to have access to more investment solutions within our Group. Pantelakis’ history, expertise and strong presence in the capital markets give us the opportunity to grow this business and build a more diversified and resilient growth model.”

CrediaPantelakis Securities CEO Nikos Pantelakis added: “For more than a century, Pantelakis Securities has built strong relationships of trust with its clients and deep expertise in the capital markets. Joining the CrediaBank Group opens a new chapter of growth for our company. By combining our experience and expertise with CrediaBank’s capabilities, infrastructure and scale, we are creating a strong investment services platform in Greece. With respect for our history and an eye to the future, we aim for CrediaPantelakis Securities to play a central role in the development of the Group’s investment services, creating even greater value for our clients.”