CrediaBank S.A. (“CrediaBank”, the “Bank” or the “Company”), the 5th banking pillar in Greece, today announces its intention to proceed with an offering of newly issued common, registered ordinary shares with voting rights (“New Shares”) of CrediaBank – with the abolition of the pre-emptive right of its existing shareholders (“Shareholders”) – that will be admitted to trading on the Main Market of the Regulated Securities Market of the Athens Stock Exchange (“ATHEX” and “Admission”, respectively).
The proposed issuance of the New Shares is subject to market conditions, an authorisation by the Extraordinary General Meeting of the Shareholders to be held on 27 March 2026 and a decision of the Company’s Board of Directors (“BoD”) acting pursuant to such authorisation.
The New Shares are expected to be offered through (i) a public offering in the Hellenic Republic to retail and professional investors via the EBB service of ATHEX, with a right of priority allocation of New Shares to be granted to registered Shareholders at the record date to be determined by the BoD (“Greek Public Offering”) and (ii) private placements to qualified, institutional and other eligible investors outside of the Hellenic Republic, subject to applicable exemptions from applicable prospectus requirements (the “Institutional Offering” and, together with the Greek Public Offering, the “Combined Offering”).
In connection with the Greek Public Offering and the Admission, the Company is preparing a document in accordance with Annex IX of Regulation (EU) 2017/1129, as in force.
Key Highlights
• CrediaBank is the 5th banking pillar in Greece by total assets as of December 31, 2025, formed through the merger between Attica Bank and Pancreta Bank in 2024.
• CrediaBank has emerged as a Greek challenger bank, with 36% year-over-year growth in net loans as of December 31, 2025, outpacing the growth of the Greek market, which stood at 8%.
• The Company achieved 88% growth in recurring pre-provision income in 2025 and €1.1 billion of net credit expansion, corresponding to an 11.4% market share in net credit expansion.
• The Company has a holistic product offering across wholesale and retail banking with a particular strength and focus on the fast-growing and underserved SME and small business segments.
• Through the actions undertaken in the recent past, CrediaBank commands a robust and clean balance sheet with a gross NPE ratio of 2.9% as of December 31, 2025, and no deferred tax credits in its capital structure.
• CrediaBank has entered into a definitive agreement – subject to customary corporate and regulatory approvals – to acquire a 70% stake in HSBC Malta , which, as of December 31, 2024, was the second largest bank in Malta by total assets (with c.24% market share ), the second largest life insurer by gross written premiums and the second largest asset manager by assets under management in the highly attractive Maltese market. This inorganic, highly synergistic and strategic move will double the Company’s size, significantly diversify the business profile of CrediaBank and unlock attractive sizable synergies.
• CrediaBank has a clear strategy for further sustainable and profitable growth with recurring return on tangible equity (defined as recurring net profit after interest payments on the Company’s AT1 notes, divided by average tangible book value) expected to exceed 17% in the medium term, supported by strong growth, balance sheet re-leveraging, and operating efficiencies, on the back of the Company’s ongoing digital transformation programme and major synergy realization.
• The Company is managed by a well-seasoned leadership team with a track-record of successful execution of complex and strategic projects and believes it is uniquely positioned to deliver synergies and value creation for all its stakeholders.
Proposed Combined Offering Highlights
The Company is proposing to conduct the Combined Offering to (i) enhance its capital position and pursue growth, (ii) increase its free float, (iii) improve the liquidity of its ordinary shares and (iv) diversify its Shareholder base.
The proposed Combined Offering is expected to consist of a primary offering of New Shares to be issued by the Company following a share capital increase, with the disapplication of pre-emptive rights but with a right of priority allocation of New Shares to the existing Shareholders.
In addition, Discovery Capital Management, LLC, Fiera Capital (UK) Limited on behalf of certain of its investment funds and Marbella Investments Inc (the “Cornerstone Investors”) have pre-committed, severally and not jointly, to subscribe for New Shares in the proposed Combined Offering for an aggregate amount of approximately €110 million, subject to customary terms and conditions.
Lock Up
It is expected that the Company and its significant shareholders, Thrivest Holding Ltd. and the Hellenic Corporation of Assets and Participations S.A., will each commit to a 180-day share lock-up from the commencement of trading of the New Shares on ATHEX, subject to customary exceptions.
Use of Proceeds from the Proposed Combined Offering
The net proceeds will be used by the Company to enhance its capital position and pursue growth, with a view to maintaining capital adequacy and liquidity ratios well above the requirements of the European supervisory framework.
Eleni Vrettou, Chief Executive Officer and Board member of CrediaBank, commented: “Our intention to strengthen our capital position is in-line with our strategic priority of pursuing and continuing to deliver profitable growth, both in Greece as well as in Malta. We are creating the conditions that will allow CrediaBank to accelerate its full potential realisation, further strengthen its relative position in the Greek market and internationally, further diversify its shareholder base and exploit possible strategic opportunities through partnerships and / or acquisitions. I would like to extend my thanks to the Cornerstone Investors for their confidence and support in the Bank’s management and our business plan and for sharing our vision at this pivotal moment for the Bank.”
