Bank of Valletta’s Internal Audit Department has begun an internal investigation over claims made in Parliament about lending malpractice.

PN MP Kirsty Debono said on Wednesday that certain people within “the circles of power” regularly approached BOV personnel dealing with credit facilities to expedite credit requests.

The bank said that these were serious allegations and its internal audit department was instructed to investigate urgently to determine if they were founded.

“The bank will also cooperate fully, as it always does, with the banking supervisors should they decide to carry out their own investigations on these allegations,” it said.

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