BoV retains A- rating

The rating agency Fitch has affirmed a long-term rating of A- for Bank of Valletta, based on the bank's performance during the financial year ending September 2004. Fitch said the rating reflects BOV's "important market position within the Maltese...

The rating agency Fitch has affirmed a long-term rating of A- for Bank of Valletta, based on the bank's performance during the financial year ending September 2004.

Fitch said the rating reflects BOV's "important market position within the Maltese financial system, improving profitability and sound capitalisation".

BoV said in a statement it was pleased to note that notwithstanding the uncertainties in the international scenario, which have a direct or indirect impact on the bank's principal sources of revenue, the bank had managed to achieve a positive performance.

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