Bank of Valletta has been named Global Finance World’s Best Bank 2013 for Malta for the fourth consecutive year.

The selection criteria considered included growth in assets, profitability, geographic reach, strategic relationships, new business development and product innovation. Other subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.

This award illustrates the bank’s leading presence in the challenging economic environment locally and internationally.

Fitch ratings issued its affirmation of BOV’s rating at BBB+ with a stable outlook in February. Planet Rating ranked it within the top five per cent of the financial institutions it deals with, giving it an A- rating with a stable outlook.

“We certainly do not take this award for granted. Every year we have to prove that we have not been resting on our laurels and that we are still dynamic and responsive to the needs of our customers,” BOV chief executive officer Charles Borg said.

Global Finance’s publisher Joseph Giarraputo said this year’s winning banks have one thing in common: a focus on responding to the needs of their customers. Specific market conditions vary from region to region, and overall conditions for the global financial market remain difficult.

These banks are being recognised for outstanding accomplishments in the face of adversity, he said.