BoV seminar on corporate social responsibility

Bank of Valletta will soon be adopting a corporate social responsibility charter, chairman Joseph F.X. Zahra said. He was speaking at a seminar organised by the bank's Strategic Planning Unit at the BoV Centre in Sliema.

During this information session, the bank invited Professor Francesco Vermiglio, a former director of the bank and a specialist on corporate social responsibility (CSR), particularly in the field of financial services, to address the seminar.

During his presentation, Professor Vermiglio gave an interesting overview on CSR, highlighting the major initiatives undertaken at a international level over the past three decades.

He discussed the findings of a recent study that stated that between 1999 and 2001, there was an increase from 35% to 64% of European enterprises that firmly believed in CSR and that European consumers are becoming increasingly demanding in purchasing goods and services from firms that have pursued a CSR strategy.

In introducing Professor Vermiglio, Mr Zahra said: "Bank of Valletta has an important role to play in Maltese social, economic and cultural life. The bank's corporate social responsibility initiatives focus primarily on supporting the local community in the areas of arts and culture, education and lifelong learning, sports, heritage preservation and the protection of the environment".

Mr Zahra also made reference to major projects that BoV is supporting, including the BoV Tarxien temples project, the BoV retrospective exhibitions organised biannually and the annual BoV Opera Festival.

Mr Zahra also announced the bank's plans to launch a foundation in support of the arts and culture, an initiative that has already received the full support of the bank's board of directors.