CrediaBank shifts strategy: Vrettou targets bolt-on acquisitions and launches 7-pillar growth plan

CrediaBank: Vrettou opens the door to bolt-on acquisitions — The 7-pillar strategy and the market message

CrediaBank is entering a new strategic phase, with CEO Eleni Vrettou presenting a coherent seven-pillar plan aimed at sustainable growth, fee-income expansion and a more resilient business model. Following the completion of major integration projects and a series of historic financial results, the bank is now positioned to pursue selective bolt-on acquisitions that enhance non-interest revenues and internal capital generation.

Targeted bolt-on M&A to strengthen fee income

Vrettou made clear that the bank is exploring small, focused acquisitions in areas with strong fee-generation potential — including wealth management, bancassurance, payments, transaction banking and trade finance. The goal is to reduce reliance on net interest income and diversify revenue streams.

Investor trust through consistency and performance

CrediaBank has delivered 11 consecutive quarters of quality growth. Recurring pre-provision profit reached €58.9m, while recurring pre-tax profit jumped to €40.8m from just €2.2m last year. Fee income more than doubled, and operating expenses fell 10% quarter-on-quarter, underscoring synergy gains, as CFO Valerie Skoda highlighted.

Accelerating credit expansion

The bank posted another record quarter in lending. New disbursements rose 45% to €819m, totalling €2.4bn in the nine months — already above full-year targets. CrediaBank’s share of new loan production surpassed 15%, far exceeding its historical footprint. For 2026, management expects new loan production above €1.2bn.

Deposit growth strengthens the funding base

Customer deposits increased 9% to €6.7bn, with a significantly improved mix and core deposits now representing 47%. Term-deposit costs (1.7%) are expected to fall as 75% of balances reprice within six months at rates 20–30 bps lower.

Synergies exceed €15m from integrations

The successful integration of former Attica and Pancreta Bank operations forms the backbone of the bank’s transformation. Synergies from branch optimisation, operational consolidation and voluntary exits have already surpassed €15m annually.

The big move: Acquisition of HSBC Malta

The acquisition of 70% of HSBC Malta marks CrediaBank’s most ambitious strategic step. The roadmap includes:

• SPA signing by end-2025
• Regulatory approvals in H1 2026
• Mandatory offer to minority shareholders
• Full operational readiness by late 2026–early 2027

This move positions CrediaBank as an emerging regional player with cross-border reach.

Digital transformation as a growth engine

The bank is redesigning its operating model and investing in new digital services, including POS overdraft solutions, advanced payment capabilities and green-finance products — all aimed at boosting competitiveness and customer experience.

Capital quality and flexibility

CET1 stands at 10.6%, supported by a new structured securitisation, while the bank is monetising non-core businesses — merchant acquiring, off-site ATMs, card issuing — to create additional capital room. Asset quality remains strong, with NPEs at 2.9% and coverage at 48%.

Source: pagenews.gr