Bank of Valletta has been named ‘Best Bank in Malta 2011’ by international magazine Global Finance at an event in Washington.

Global Finance president and publisher Joseph Giarraputo, presented the award to BoV’s Canada representative office manager Emmanuel Ciappara.

With input from industry experts, Global Finance editors use a series of criteria to arrive at their selections of the best banks in various countries. These include market share, number and size of deals, service and advice, structuring capabilities, distribution network, efforts to address market conditions, innovation, pricing, after-market performance of underwritings and market reputation.

Bank of Valletta chief executive officer Tonio Depasquale said the bank had continued to build its capital and liquidity ratios while ensuring that conservative underwriting policies were maintained.

“The bank has not only weathered the crisis of the past few years well but has emerged as a stronger organisation,” Mr Depasquale said. “BoV has successfully passed all stress tests by the Committee of European Bank Supervisors and launched a number of new products and services aimed at the retail and corporate sectors.”

Mr Giarraputo stressed how the investment banking industry had changed as a result of the financial crisis.

“The best institutions are those with a business model focused on customer needs. More than ever, customers are demanding superior competence from their banking partners. These are the banks best providing that competence,” he said.

The Global Finance magazine has thousands of subscribers worldwide in more than 158 countries. The audience includes chairmen, presidents, chief executives and financial officers who make investment and business decisions based on these results.

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