Boosting Malta's financial services sector
The Times Business caught up with Margrith Lütschg-Emmenegger, president of FIMBank plc
FIMBank's headquarters has been in Malta since the Bank came to Malta in 1994. What have been the key developments in the company's growth since then?
Since its inception, FIMBank aimed to be an international trade finance bank serving mainly international clients but also the Maltese market. In addition to the traditional trade finance activities, we developed a wide range of highly specialised products such as forfaiting, factoring and ship financing. This was coupled with the development of a global network through acquisition and establishment of companies in strategic markets. Both developments are and will remain an ongoing process. We are now internationally a quite well-recognised institution, still relatively small in size but growing.
Which regions, sectors and companies do FIMBank service?
Trade is not limited to a single region and as such we are active around the globe. We service mainly international clients but also Maltese companies active in trade. Our special focus is on small- and medium-sized companies (SMEs) either selling to or active in emerging markets.
What niche markets has the bank managed to clinch?
FIMBank offers a wide range of specialised trade finance products and I am proud to say that in each of these products we enjoy our niche market. Throughout the years we have developed excellent relationships with African countries but we have also been very active and successful in Asia (India) and the Middle East (Dubai).
What joint ventures has the Group embarked upon?
Our strategy is to establish joint ventures in products in which we have a value added through our expertise. Over these last years we established factoring joint ventures with reputable partners in Egypt, Dubai and India. We recently sold our Indian joint venture at an excellent and rewarding price. However, India remains an excellent market that we are planning to re-enter in the near future.
What has spurred FIMBank to strategically move its global headquarters to The Exchange?
The Exchange is in a prestigious location and we had the facility of custom-building an office block to suit our requirements, at the same time benefitting from becoming an integral part of this Financial and Business Centre. FIMBank is an environmentally aware organisation and wants a sustainable office block that will reflect the values and culture of the bank. We will be creating the right image to our clients as well as the most pleasant surroundings for our staff. The Exchange offers the Group the right environment for us to achieve these objectives.
With a global presence spanning four continents, what will operations from an iconic state-of-the-art building in Malta mean for the company and its employees? Is it just a matter of logistics?
Logistics are important - we will be closer to five-star hotels and enjoy quick and easy access to Malta's main traffic arteries - but also portraying the right image and reflecting the right impression are important. Moreover, we will be enhancing the quality of the working life and the environment for the staff, together with offering pleasant facilities for clients.
What added value will the new headquarters enjoy at The Exchange?
We see this in terms of the essential additional space and functionality as well as a good investment for the future not only with regard to financials but also for the healthy growth of our operations.
What plans does the FIMBank Group have for future business?
Expand our product range and our international reach, through joint ventures as well as branch network. Our vision remains to become a world leading and renowned trade finance group - promoting the development of the Maltese financial services sector in the process.
Since its inception, FIMBank aimed to be an international trade finance bank serving mainly international clients but also the Maltese market. In addition to the traditional trade finance activities, we developed a wide range of highly specialised products such as forfaiting, factoring and ship financing. This was coupled with the development of a global network through acquisition and establishment of companies in strategic markets. Both developments are and will remain an ongoing process. We are now internationally a quite well-recognised institution, still relatively small in size but growing.
Which regions, sectors and companies do FIMBank service?
Trade is not limited to a single region and as such we are active around the globe. We service mainly international clients but also Maltese companies active in trade. Our special focus is on small- and medium-sized companies (SMEs) either selling to or active in emerging markets.
What niche markets has the bank managed to clinch?
FIMBank offers a wide range of specialised trade finance products and I am proud to say that in each of these products we enjoy our niche market. Throughout the years we have developed excellent relationships with African countries but we have also been very active and successful in Asia (India) and the Middle East (Dubai).
What joint ventures has the Group embarked upon?
Our strategy is to establish joint ventures in products in which we have a value added through our expertise. Over these last years we established factoring joint ventures with reputable partners in Egypt, Dubai and India. We recently sold our Indian joint venture at an excellent and rewarding price. However, India remains an excellent market that we are planning to re-enter in the near future.
What has spurred FIMBank to strategically move its global headquarters to The Exchange?
The Exchange is in a prestigious location and we had the facility of custom-building an office block to suit our requirements, at the same time benefitting from becoming an integral part of this Financial and Business Centre. FIMBank is an environmentally aware organisation and wants a sustainable office block that will reflect the values and culture of the bank. We will be creating the right image to our clients as well as the most pleasant surroundings for our staff. The Exchange offers the Group the right environment for us to achieve these objectives.
With a global presence spanning four continents, what will operations from an iconic state-of-the-art building in Malta mean for the company and its employees? Is it just a matter of logistics?
Logistics are important - we will be closer to five-star hotels and enjoy quick and easy access to Malta's main traffic arteries - but also portraying the right image and reflecting the right impression are important. Moreover, we will be enhancing the quality of the working life and the environment for the staff, together with offering pleasant facilities for clients.
What added value will the new headquarters enjoy at The Exchange?
We see this in terms of the essential additional space and functionality as well as a good investment for the future not only with regard to financials but also for the healthy growth of our operations.
What plans does the FIMBank Group have for future business?
Expand our product range and our international reach, through joint ventures as well as branch network. Our vision remains to become a world leading and renowned trade finance group - promoting the development of the Maltese financial services sector in the process.