Bank of Valletta has been named Bank of the Year in Malta for 2008 for the fourth consecutive year by The Banker, the Financial Times Group monthly banking publication. The award singles out the bank for the best overall performance and its qualitative achievements.

The 'Bracken Award' was presented by The Banker editor Brian Caplen to chief officer, Bank of Valletta Group, Peter Perotti and executive head, card services, Michael Galea at a ceremony in London.

"The 2008 financial year has seen a further consolidation of the bank's position as the market leader in customer deposits," executive officer Tonio Depasquale explained. "This was supported with a powerful balance sheet, very sound liquidity and capital positions. The award reaffirms the bank's strong position in a challenging and competitive environment."

The growth in BoV's net loan book and a sustained improvement in the quality of the credit business were among the factors that led to the prestigious recognition.

The Banker has been a trusted source of global financial intelligence since 1926 and the Bank of the Year Awards listing has become an international key indicator of financial performance.

BoV has also been named Best Bank in Malta for 2008 by Global Finance.

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