Malta Central Bank
A regulatory body
The Central Bank of Malta was established by the Central Bank of Malta Act on 17th April, 1968. On 1st May, 2004 the Bank joined the European System of Central Banks (ESCB) and on 1st January, 2008 it became part of the Eurosystem.
The main objective of the Eurosystem and the Central Bank of Malta is to maintain price stability. In order to meet this objective, the Central Bank of Malta participates in the preparation and decision-making process of the Eurosystem’s monetary policy.
Other than the objectives of maintaining price stability, the Central Bank of Malta has other responsibilities as outlined in its mission statement.
Maltese Commercial Banks
Bank of Valletta plc
The BOV Group is a leading financial services provider in Malta, providing a full range of financial services including investment banking, private banking, fund management, bancassurance and stockbroking. Domestic operations include a national network of 41 branches, a Corporate Centre, 5 Business Centres and a Wealth Management arm.
In addition to the traditional banking services, BOV is continuing to evolve its product portfolio to include new financial products. BOV also issues bank cards under the Visa, MasterCard and American Express brand names and offers Internet banking, customer service centre, telephone banking and mobile banking to its personal and corporate customers.
BOV is currently rated by two international rating agencies, namely FitchRatings and Moody’s Investors Service. BOV has been assigned the following investment grade ratings:
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HSBC Malta plc
Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. HSBC's international network comprises around 9,500 offices in 85 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa.
With listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings plc are held by around 200,000 shareholders in some 100 countries and territories. The shares are traded on the New York Stock Exchange in the form of American Depositary Receipts.
Through an international network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services: personal financial services; commercial banking; corporate, investment banking and markets; private banking; and other activities.
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APS Bank Ltd
APS Bank Limited is a limited liability company, which is wholly owned by the Catholic Church in Malta. The Bank is licensed to conduct Investment Services business by the Malta Financial Services Authority.
Over the years the Bank has sought to identify sectors in which it can contribute to their development. Areas like (a) housing, (b) agriculture, (c) heritage, (d) education, (e) sports and (f) youth development, have all been strongly assisted by the Bank.
APS Bank specialises in retail and community banking, continuously increasing its physical presence in the market and aiming to locate itself strategically while moving towards automation.
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Lombard Bank plc
Lombard Bank Malta plc dates back to 1955 when Lombard North Central of the UK was active in taking deposits in Malta through a number of agents. This activity was formalised in 1969 when Lombard Bank (Malta) Limited was registered as a wholly-owned subsidiary of Lombard North Central plc - a member of the Natwest Bank Group.
In 1975, the Maltese Government purchased 25% of the Bank's ordinary shares. An option to acquire a further 35% was exercised by Government in 1981 while 40% were retained by Lombard North Central. In April 1990 the Bank became a Public Limited Company and offered equity to the public. The issue was five times oversubscribed and the Government shareholding was subsequently totally divested. In 1994 Lombard Bank listed its shares on the Malta Stock Exchange.
Services cover the full range of traditional commercial banking activities yet focus is given to extending a personalised service.
The Bank operates a network of 6 branches in Malta and Gozo with its Head Office at 67 Republic Street, Valletta.
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| 06.10.2008 |