 29 Nov. - 5 Dec. 2000 |
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Bank of Valletta selected as one of the best Banks in Europe Bank of Valletta has been recently selected amongst one of the best banks in Europe by the influential Global Finance's readers and editors. The announcement of this award was published in the Global Finance October issue which was made available to all delegates at the annual meeting of the IMF/World Bank in Washington Global Finance reported that, for the six months ended March 2000, Bank of Valletta had recorded an after tax profit of Lm8.6 million compared to the Lm6.3 million for the same period the year before. More surprising is the fact the Bank has been able to achieve these figures in the face of intensifying competition. Within Malta's small banking system, Bank of Valletta has been the institution to take the biggest strides towards improving efficiency and diversifying its services. These efforts can be seen from the Group's latest initiatives namely the setting up of a new stockbroking company, BOV Stockbrokers Limited (BOVSL) aimed at creating a more active capital market in Malta and more recently, the opening of a new representative office in Tunisia. The purpose of the new stockbroking company is to provide stock-broking services to the Bank's branch network and customers, and to other companies in the BOV Group. This initiative followed logically on the BOV's long-stated intention of providing a seamless financial service for Maltese investors. The opening of the new office in Tunisia, on the other hand, is in line with BOV's internationalisation process which seeks to take advantage of growing trade and investment markets and at the same time consolidates the Bank's resolve to offer a complete package of services to its customer base, not only on a local level but also internationally. | ||||||
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The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07
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