Joaquim Silva Pinto has been elected chairman of the Malta Bankers’ Assocaition for a year.

He will chair the board whose members are Edward Cachia, Marcel Cassar, Tonio Depasquale, Alan Richards, Victor Rizzo Giusti, Joseph Said and Henry Schmeltzer.

The combined balance sheet total of the association’s member banks as at the end of last year reached €50 billion, up from €40 billion the previous year. Total equity stood at over €9 billion.

The number of full-time employees was 3,875. The direct contribution of the banking sector to the local economy remains significant, with payroll last year amounting to €114 million, taxation on profit on ordinary activities reaching €113 million, and dividends paid to resident shareholders amounting to over €64 million. Loans and advances to customers totalled €20 billion, with amounts owed to customers standing at €21 billion.

Mr Silva Pinto said: “Maltese banks have proved to be resilient in the aftermath of the financial crisis, and have maintained high levels of capital and liquidity last year. It is gratifying to record, in this context, that Malta was ranked 10th – up from 13th place – for the soundness of its banks by the World Economic Forum in its Global Competitiveness Report for 2010-2011”.

Member banks are Akbank T.A.S., APS Bank Ltd, Banif Bank (Malta) plc, Bank of Valletta plc, BAWAG Malta Bank Ltd, CommBank Europe Ltd, Credit Europe Bank N.V., Deutsche Bank (Malta) Ltd, Erste Bank (Malta) Ltd, FIMBank plc, Fortis Bank Malta Ltd, HSBC Bank Malta plc, IIG Bank (Malta) Ltd, Investkredit International Bank plc, Izola Bank plc, Lombard Bank Malta plc, Mediterranean Bank plc, NBG Bank Malta Ltd., Nemea Bank plc, Raiffeisen Malta Bank plc, Sparkasse Bank Malta plc, Turkiye Garanti Bankasi A.S., VoiceCash Bank Ltd and Volksbank Malta Ltd.

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