NEWS | Wednesday, 28 May 2008

New MBA chairman elected

At the Annual General Meeting of the Malta Bankers’ Association (MBA) that was held earlier this month, Mr Tonio Depasquale was elected as Chairman of the Board of the Association for the coming year. The other Board members are Mr Edward Cachia, Mr David Cauchi, Mr Noel Curmi, Mr Cenk Kahraman, Mr Aldo Minuti, Mr Alan Richards, Mr Victor Rizzo Giusti, Mr Joseph Said, Ms Silke Schermann, and Mr Joaquim da Silva Pinto.
Mr Igino Xuereb will act as Chairman of the Commercial Banks’ Executive Committee, and Mr Cenk Kahraman will Chair the Other Banks’ Executive Committee.
Mr James Bonello, Secretary General, will continue to head the Secretariat.
The following banks which are licensed to operate in Malta are members of the Association: Akbank T.A.S., APS Bank Ltd, Banif Bank (Malta) plc, Bank of Valletta plc, BAWAG Malta Bank Ltd, CommBank Europe Ltd, Erste Bank (Malta) Ltd, FIMBank plc, Finansbank (Malta) Ltd, Fortis Bank Malta Ltd, HSBC Bank Malta plc, InvestKredit International Bank plc, Izola Bank Ltd, Lombard Bank Malta plc, Mediterranean Bank plc, Raiffeisen Malta Bank plc, Sparkasse Bank Malta plc, Turkiye Garanti Bankasi A.S. and Volksbank Malta Ltd.
The combined balance sheet total of the Association’s member banks exceeds €37 billion, whilst the number of their full time employees is around 3,600. The direct contribution of the banking sector to the local economy remains significant, with payroll last year amounting to €100 million, taxation on profit on ordinary activities reaching €91 million, and dividends paid to resident shareholders amounting to over €58 million.