€60 million boost: MeDirect CEO outlines post-acquisition growth strategy

MeDirect Group CEO Jean-Claude Maher tells MaltaCEOs.mt that the €60 million capital injection from Banka CREDITAS will accelerate, rather than change, the bank’s challenger strategy in Malta and across Europe.

MeDirect Group’s acquisition by Czech-based Banka CREDITAS marks the beginning of a new growth chapter for Malta’s first digital bank. The deal saw Banka CREDITAS acquire all shares of MDB Group Limited – the parent company of MeDirect Bank (Malta) plc – from Medifin Finance Limited.

The transaction comes with a €60 million capital injection, which CEO Mr Maher describes as “the financial firepower we needed to really push forward with our existing strategy to be the main challenger bank in the markets we operate in.”

Mr Maher stresses that the acquisition does not signal a shift in direction, but rather a strengthening of the bank’s existing business model. “In other words, we will be accelerating our strategy, not changing it,” he says.

Being a challenger bank, he explains, means using MeDirect’s “robust open architecture infrastructure” and focus on customer centricity to deliver a fully-fledged suite of retail and corporate banking services.

“In Malta, we will also continue to combine our digital infrastructure with the personalised support we offer through our advisory and branch services,” he adds.

Focus on corporate banking

The CEO pointed to corporate banking as the bank’s immediate priority in Malta. MeDirect already has a reputation for its corporate digital banking platform on the transactional side, and the plan is to “successively broaden our suite of products and services, ensuring these are tailored towards the needs of that client segment.”

He highlighted that MeDirect’s track record – from its investment platform to its home loan service and retail banking operations – demonstrates its ability to quickly bring products to market. “Joining Banka CREDITAS, which has the same challenger bank DNA, gives us the ability to do more,” he says.

Continuity for Maltese customers

Despite the change in ownership, MeDirect’s identity will remain intact. “MeDirect will remain a Maltese bank, headquartered in Malta, and committed to serving the Maltese economy,” Mr Maher underlines.

He emphasises that the bank already operates on a highly secure and resilient open architecture platform, which enables it to launch new products quickly and adapt to customer needs. With Banka CREDITAS’s investment, the bank can now “fulfil this platform’s potential, expanding our product offering while retaining the very highest levels of security and reliability.”

Strength to compete with traditional banks

According to Mr Maher, the €60 million investment invigorates MeDirect’s ability to compete with Malta’s larger, more traditional players. “There are already many MeDirect clients who know what our platform can offer, whether it’s investing, home loans, or corporate onboarding and credit underwriting,” he says.

“With the new resources available, we will be able to make sure that many more people in Malta hear about MeDirect and understand that our combination of a market leading digital banking platform, world class IT infrastructure and personalised support is a powerful one.”

MeDirect, founded in Malta in 2004, has grown into a pan-European digital bank serving more than 160,000 customers and managing over €6 billion in assets. Beyond its home market, it has established itself in Belgium, where it operates purely digitally.

While there are no immediate plans to enter new geographies, Mr Maher sees significant scope to grow market share in existing markets, thanks to the combined strength of MeDirect and Banka CREDITAS. “Our shared focus on innovation and customer centricity gives us an incredible opportunity to consolidate the strength of both banks and grow our collective footprint,” he says.