Bank of Valletta has been named Safest Bank in Malta for 2014 by Global Finance magazine. Photo: Darrin Zammit LupiBank of Valletta has been named Safest Bank in Malta for 2014 by Global Finance magazine.
Global Finance publisher and editorial director Joseph Giarraputo explained that the survey conducted by Global Finance in more than 100 countries provided an objective tool for benchmarking and analysing of the safest banks on a country-by-country basis.
“Geopolitical risk is rising in some markets and new regulations are causing corporates to re-evaluate their banking relationships worldwide. It is essential for companies to have a clear view on the strength and stability of their banking partners,” he said.
Banks were selected through an evaluation of long-term credit ratings – from Moody’s, Standard & Poor’s and Fitch – and total assets of the 1,000 largest banks worldwide.
“We are pleased that the bank’s prudent approach in managing its balance sheet, ensuring strong capital and liquidity buffers and safeguarding its asset quality is being recognised on an international level,” said BOV’s chief executive officer Charles Borg.
He referred to the growth experienced by the bank over the past years, thanking customers for their continued trust, and promised that the bank would continue to reciprocate by offering an ever improving level of service.
“Growth must be pursued in a sustainable manner and in alignment with BOV’s vocation as a major pillar of financial stability in Malta,” he said.