
In the first half of 2023, the transaction for the sale of the HSBC branch in Greece to Pancreta Bank is expected to be completed, provided that the necessary supervisory approvals are obtained.
The two sides signed the agreement in principle today. Upon completion of the transaction, it is expected that all assets and liabilities, human resources and the network of 15 HSBC branches in Greece will be transferred to Pancreta Bank.
An announcement of the Greek credit institution points out that the HSBC network is completely complementary to its presence in Athens.
Enhancement
In addition, the capital adequacy ratios of Pancreta Bank are expected to be significantly bolstered after the transaction, and even further with the planned share capital increase that is expected to take place in the 2nd quarter of this year.
On the other hand, the British group announced that HSBC is in the process of informing its employees, in the context of the implementation of the agreement.
It pointed out that in any case, its staff in Greece will be transferred to the new scheme, as they are part of the transaction.
It is noted that the completion of the deal is subject to the approval of the Bank of Greece and the Competition Commission.


Latest News

WTTC: Travel & Tourism to Create 4.5M New Jobs in EU by 2035
This year, international visitor spending is set to reach 573 billion euros, up by more than 11% year-on-year

IMF: US Tariffs Shake Global Economy, Outlook Downbeat
IMF slashes global growth forecast to 2.8% as U.S. tariffs create uncertainty and ‘negative supply shock

First Step Towards New Audiovisual Industry Hub in Drama
The project is set to contribute to the further development of Greece’s film industry and establish Drama as an audiovisual hub in the region

Airbnb Greece – Initial CoS Ruling Deems Tax Circular Unlawful
The case reached the Council of State following annulment applications filed by the Panhellenic Federation of Property Owners (POMIDA)

Mitsotakis Unveils €1 Billion Plan for Housing, Pensioners, Public investments
Greek Prime Minister Kyriakos Mitsotakis has announced a new set of economic support measures, worth 1 billion euros, aiming to provide financial relief to citizens.

Alter Ego Ventures Invests in Pioneering Gaming Company ‘Couch Heroes’
Alter Ego Ventures' participation in the share capital of Couch Heroes marks yet another investment by the Alter Ego Media Group in innovative companies with a focus on technology.

Corruption Still Plagues Greece’s Driving Tests
While traffic accidents continue to claim lives on Greek roads daily, irregularities and under-the-table dealings in the training and testing of new drivers remain disturbingly widespread

Pope Francis Died of Stroke and Heart Failure Vatican Confirms
As news of the official cause of death spread, tributes poured in from across the globe. The 1.4 billion-member Catholic Church is united in grief, remembering a pope who championed inclusion, justice, and compassion

Increase in Both Museum Visits, Revenues for 2024
As expected, the Acropolis was the top archeological site in the country, followed by Sounion, Mycenae, the ancient theater of Epidaurus, and Vergina in northern Greece

Where Greece’s Tourists Come From: A Look at 2025’s Top Visitor Markets
The United Kingdom continues to hold the top spot as the largest source of incoming tourism, with 5.6 million seats booked for Greece this summer — up 2.2% from last year. This accounts for 20% of all international air traffic to Greece