CrediaBank's Greek brokerage buy signals deeper play in investment services ahead of HSBC Malta deal

CrediaBank has completed the acquisition of a 70% stake in Pantelakis Securities, renaming it CrediaPantelakis Securities. The move comes as the Greek lender also awaits regulatory approval to acquire 70.03% of HSBC Malta.

The brokerage acquisition expands CrediaBank's investment banking capabilities and broadens the range of investment transactions it can handle. CrediaBank customers will gain access to a wider suite of investment products, while Pantelakis clients will be able to tap into the bank's services.

The deal is expected to boost fee income and diversify revenue streams for the group. The relatively low capital requirements of brokerage activities also support more efficient use of capital.

Pantelakis Securities, founded in 1920, is one of Greece's oldest brokerage firms. It provides access to Greek and international capital markets, investment research, clearing and custody services, and is a member of Euronext Athens.

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."

The existing management team will remain in place, focusing on growing the business, upgrading technology, and improving the client experience through a unified service model.

For Malta, CrediaBank's dual expansion, the Pantelakis acquisition and the pending HSBC Malta takeover, signals a strategic push into investment services. Maltese clients of the combined entity could benefit from a broader product range and deeper capital markets access.