IN BRIEF: HSBC enters exclusive talks for sale of Malta branch stake

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HSBC Holdings PLC - London-based universal bank - Indirectly held subsidiary HSBC Continental Europe has entered exclusive talks with CrediaBank SA, formerly known as Attica Bank, for a limited period regarding the potential sale of its majority shareholding in HSBC Bank Malta PLC. CrediaBank was identified as a preferred bidder as part of a strategic review of HSBC’s stake in HSBC Bank Malta. No agreement has yet been reached, and the strategic review remains ongoing.

The bank’s Continental Europe arm manages the business activities of 10 European branches, comprised of Belgium, Czech Republic, Germany, Ireland, Italy, Luxembourg, the Netherlands, Poland, Spain and Sweden. HSBC Bank Malta is listed on the Malta stock exchange and is around 70% owned by HSBC Continental Europe.

Current stock price: 952.30 pence, down 0.2% in London on Friday afternoon

12-month change: up 45%

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