New shareholder in FIMBank

A substantial shareholding in FIMBank Malta has been acquired by International Finance Corporation, a member of World Bank Group. IFC had signed a Subordinated Convertible Loan Agreement with FIMBank last June that gave IFC the right to convert part of...

A substantial shareholding in FIMBank Malta has been acquired by International Finance Corporation, a member of World Bank Group.

IFC had signed a Subordinated Convertible Loan Agreement with FIMBank last June that gave IFC the right to convert part of the loan into ordinary shares.

The shares will give IFC a shareholding of 7.18 per cent of FIMBank's issued share capital and a seat on its board. IFC will as a result become the second largest shareholder in FIMBank.

The president of FIMBank Group, Margrith Lütschg-Emmenegger said that IFC shareholding in FIMBank was a strong sign of confidence in the bank and its potential.

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