Major Maltese Businesses In Consortium Seeking To Acquire HSBC Malta

After Lovin Malta revealed that a local consortium of businesses has submitted a bid to purchase HSBC Malta, Times of Malta has followed up with the names of some of the businesses involved.
The businesses reportedly include the Azzopardi Group, Gasan Group and Virtu Holdings and current Lombard Bank CEO Joe Said.
Lovin Malta is informed that Alf Mizzi and Sons Ltd is also involved in the bid.
Some foreign investors are also believed to be involved.
They become the third group to declare interest in acquiring HSBC, following APS Bank and Hungarian bank OTP, with all three bids said to be at varying stages of due diligence.
However, the consortium’s offer is the first bid that hasn’t been submitted by a established bank.
Finance Minister Clyde Caruana has urged caution on the bids, telling the Times that whoever ends up acquiring HSBC must have the “capability and track record to run a systemically important bank in a prudent and responsible manner” and that the new ownership must be aligned with the stability of Malta’s wider economy.
He also acknowledged that while competition can be healthy, it cannot come at the expense of effective supervision or strategic foresight.
In a brief update issued this week, HSBC Malta reiterated that its review is ongoing, and that it would not be commenting on individual expressions of interest. However, the bank confirmed that it had entered into discussions with multiple parties and that any eventual deal would be subject to regulatory approval.
HSBC has long played a critical role in Malta’s banking sector. As the second-largest bank by assets, its potential sale would mark a significant reshuffling of the domestic financial landscape. The group announced in 2023 that it was exploring strategic options for its Maltese subsidiary as part of a broader effort to streamline its operations and focus on higher-growth markets.
With the due diligence phase now under way, the coming weeks are likely to clarify who the frontrunners really are.