APS Bank has officially exited the bidding process for the acquisition of HSBC Malta, despite earlier enthusiasm and a submitted non-binding offer. The decision was attributed to confidential information discovered outside the formal due diligence process, although specific details were not disclosed.
The move marks a notable shift in APS Bank’s expansion strategy, as it had previously signaled strong interest in acquiring the 70% stake in HSBC Bank Malta currently owned by HSBC Holdings. Just earlier this month, APS reiterated its intent to strengthen its local footprint through this acquisition.
With APS now stepping back, the future of HSBC Malta’s ownership remains open, as other potential buyers may still be in the running.
