Greece's newly consolidated Attica Bank has confirmed it is bidding to acquire HSBC Malta, a major strategic move that would mark the Greek lender's first international expansion.
In an official statement, Attica Bank said it has "expressed interest in participating in this process and acquiring the shares."
The bid is reportedly the only one submitted by a European Union-based bank, a factor expected to be viewed favorably by regulators.
The move comes after Attica Bank's recent merger with Pagkritia Bank and its acquisition of HSBC's Greek operations, which established it as Greece's fifth-largest bank.
A successful purchase of HSBC Malta would place Attica Bank under the direct supervision of the European Central Bank for the first time.
HSBC Malta is a profitable institution with total assets of approximately 5 billion euros and a 20% market share.
The sale is part of HSBC's broader strategy of exiting smaller European markets.