Momentum has welcomed the fact that HSBC Malta is in negotiations with an EU-based bank, noting that supervision by the European Central Bank (ECB) provides an added layer of security for local banking operations.
However, Momentum treasurer Carmel Asciak stressed that transparency must remain at the forefront, particularly in relation to CrediaBank, the Greek bank currently in talks to acquire HSBC Malta.
“As revealed by Stefanos Kasselakis, President of the Greek Movement for Democracy party, CrediaBank has deliberately misinformed the public by falsely asserting that no criminal prosecution is pending against Mr. Alexandros Exarchou,” Asciak said.
Mr. Exarchou, CEO of construction company Aktor and shareholder of both Thrivest and CrediaBank, was formally indicted by the European Public Prosecutor’s Office in 2024 along with 22 others. He has already appeared before an Investigating Magistrate and even filed a motion for her recusal.
“Any serious banking institution has to act in full transparency,” Asciak continued. “If what is revealed by the Greek Movement for Democracy is confirmed, CrediaBank has started its Malta venture on the wrong footing. We hope such an attitude does not persist. Journalists and the Maltese public must be given full disclosure regarding CrediaBank.”
The concerns raised by Momentum recent reports that CrediaBank – formerly known as Attica Bank – has emerged as the preferred buyer of HSBC Malta, with Finance Minister Clyde Caruana confirming government approval for the deal. Competing bidders included Bank of Georgia, Ardshinbank, and OTP, while APS Bank eventually withdrew its offer.
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