Momentum has welcomed the fact that HSBC is in talks with an EU based Bank since, being under supervision of the European Central Bank, “this should serve as an extra safeguard as regards Bank operations.”

However, Momentum insisted that “CrediaBank should be totally transparent in what it says.”

Carmel Asciak, Momentum treasure said that Stefanos Kasselakis, President of the Greek Movement for Democracy party, has revealed that CrediaBank has “deliberately misinformed the public by falsely asserting that no criminal prosecution is pending against Mr. Exarchou. The actual situation, however, as has been public knowledge since 2024, is that Mr. Alexandros Exarchou, Chief Executive Officer of the company Aktor and shareholder of both Thrivest and CrediaBank, is among the 23 individuals formally indicted by the European Public Prosecutor’s Office and has already appeared before the competent Investigating Magistrate, even filing a motion for her recusal.”

Carmel Asciak concluded by saying that, “any serious banking institution has to act in full transparency. If what is revealed by the Greek Movement for Democracy is confirmed, CrediaBank have started their Malta venture on the wrong footing. We hope that such an attitude does not persist.

“Journalists and the Maltese public have to be given full disclosure with regards to information about CrediaBank.”

CrediaBank Statement

CrediaBank said that it categorically rejects and expressly objects to the false allegations made that erroneously state the Bank has misinformed stakeholders or falsely denied accusations.

CrediaBank said it is a regulated Bank by the European Central Bank as well as a listed public entity on the regulated European Stock Exchange of Athens.”As such, we consistently operate under the highest standards of transparency, corporate governance and regulatory compliance in line with the European framework.”

In the interest of full transparency, the Bank said it released a public statement on Saturday, 23rd August, which addressed in detail the issue of Mr. Alexandros’ Exarchou alleged indictment. “We repeat here that the fact remains that while an investigation was initiated by the Office of the European Dele gat ed Prosecutors in Athens which extended to all past managers of the companies involved over the duration of construction contract 717, nevertheless no decision has been issued to date to refer Mr. Exarchou to trial, nor has Mr. Exarchou been convicted of any related offense.”

The case still remains under investigation, the Bank said.

It added that it is “also a fact that Mr. Exarchou was in office of the company involved in t h e c o n t rac t for a short period of only 1.5 years, in an overall duration of the contract of nearly 9 years, while during this time no funds have been received by the company under this contract. It should also be noted that judicial proceedings at this stage are not public.”

The matter has already been referred to the competent European and national supervisory authorities, as part of the Bank’s and Mr. Exarchou’s regulatory obligations, and to date no objections have been raised, said the Bank.

CrediaBank expressed the hope that “political considerations and other motives seeking to distort facts are kept separate from this commercial transaction, which will be assessed rigorously by regulators on its own merits.”

The Bank concluded by saying that the “proposed acquisition of HSBC Malta is intended to deliver real benefits to customers, employees, shareholders and Malta’s economy reinforcing competition, resilience, and long term growth in the financial sector.”

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