The acquisition of Volksbank Malta was finalised today following the receipt of full regulatory approval from the Malta Financial Services Authority.

The acquired bank has been renamed Mediterranean Corporate Bank Limited and is set to become a local leader in providing corporate banking services to medium and large organisations.

Mr Charles Cini was appointed CEO and the Mediterranean Corporate Bank team will supplement Volksbank staff.

“This deal is a key part of our strategy to enhance and broaden our corporate lending portfolio to Maltese clients,” said Mediterranean Bank’s CEO Mark Watson.

“This is another positive step for Mediterranean Bank Group, following the opening of our Belgian business last year. Through Mediterranean Corporate Bank we will deliver innovative financing solutions to local medium sized and large businesses, using our balance sheet strength to bolster lending activities.

"Additionally we can provide market solutions through other entities in the group and provide a full spectrum of corporate services, from competitive foreign exchange services to a comprehensive and transparent payments capability.”

Mediterranean Corporate Bank is a wholly owned subsidiary of Mediterranean Bank.

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