Public confidence in the banking sector will be strengthened after the two largest domestic banks passed a eurozone stress test, according to the Finance Minister.
Edward Scicluna yesterday welcomed the news that Bank of Valletta and HSBC Malta got a clean bill of health from the European Central Bank.
“This will also facilitate more lending across all sectors of the economy helping further economic growth,” he said.
The results of the comprehensive assessment exercise conducted by the ECB on 130 banks located in 19 member States were published on Sunday after a year-long probe.
Prof. Scicluna said the results reconfirmed “the soundness and robustness of Malta’s banking sector”.