Best Bank Award for BOV

BOV has won the Best Bank Award 2002 for Malta. This is the third consecutive year that BOV has won this prestigious award granted by Global Finance. The awards were announced during a presentation ceremony held recently in Washington.

Global Finance said that one "top" bank was selected in each country, based on performance over the past year, and other subjective criteria such as management excellence. Factors considered included growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. All selections were made by the editors of Global Finance, after extensive consultations with bankers and corporate financial executives throughout the world.

Global Finance said that the mix of factors it has used in selecting the best banks yield leading banks that may not be the largest, oldest or the most diversified in a given country or sector, but rather the best – the bank with which corporations around the world would most likely want to do business.

Commenting on this award, Joseph F. X. Zahra, Chairman of Bank of Valletta p.l.c. said that it was encouraging to note that BOV is once again being recognized for its achievements. "Bank of Valletta is a strong financial services organization with solid business fundamentals. Indeed, results for the financial year ended 30th September 2002 underline the strength and resilience of BOV’s operations. Performance coupled with a proactive and forward looking strategy positions BOV as a prime mover in Malta’s financial services sector" concluded Mr. Zahra.