An internal investigation by Bank of Valletta into a loan to a businessman worth millions has found no wrongdoing by the bank’s executive head of corporate finance.

The investigation was launched last August on the strength of evidence seen by The Sunday Times of Malta showing that hotelier Adrian Buttigieg paid for BOV executive Alfred Attard’s stay at a London hotel. The Planning Authority’s executive chairman, Johann Buttigieg, who is a good friend of the hotelier, also stayed at the hotel under the booking made by Adrian Buttigeg.

The trip took place in 2014. The trio – Mr Buttigieg, BOV executive Mr Attard and PA executive chairman Johann Buttigieg, who was then the CEO of Mepa – stayed at the London Royal Garden Hotel.

The booking, worth over €1,200, was paid for using Adrian Buttigieg’s credit card, documents show. The hotel stay roughly coincided with a loan – believed to amount to more than €10 million – granted to the hotelier’s company La Salita Leisure Holding Ltd by BOV

Bank of Valletta’s CEO Mario Mallia said an internal investigation, which was reviewed by a leading audit firm, found nothing that could indicate that Mr Attard’s professional judgment was, in any way, influenced by the trip to London. “As the bank has explained on a number of occasions, all business loan proposals received have to be jointly approved by the business side and by the risk management side.

“There are then different levels of the sanctioning hierarchy, with the highest sanctioning body being the board of directors.  There is no way in which a business loan can ever be approved by any one person.”

When Adrian Buttigieg was asked by this paper to explain the reason behind the 2014 trip and the nature of his relationship with Mr Attard, he said the question impinged on  private lives.