Mediterranean Corporate Bank has been set up as the first corporate bank fully dedicated to corporate banking services, including lending.

It was established by Mediterranean Bank plc following the acquisition of Volksbank Malta last month, raising the group’s shareholder equity to €170 million.

“Mediterranean Bank was established almost 10 years ago. It was later acquired by Anacap in August 2009 and we have since seen our staff complement grow from six people in 2009 to more than 250 today,” said Mediterranean Bank’s CEO Mark Watson at the new bank’s headquarters in Dingli Street, Sliema.

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