Bank of Valletta ranked among worlds
best 80 banks
Bank of Valletta has been placed among the top 80 eminent financial
institutions listed in this years Global Finances annual list
of the world's best global, regional and country banks.
Announcing the list of institutions, Global Finance stated, "The
continuing waves of consolidation that are sweeping the global banking
industry are leaving fewer, stronger and better geographically positioned
institutions, which Global Finance has profiled in this year's report
on the World's Best Banks awards."
Referring to Bank of Valletta, Global Finance described how, "Bank
of Valletta is committed to serving the domestic market well by embarking
on a new strategy featuring relationship banking. However, the Bank
is also seeking to improve its services to international clients. BOVI
is refocusing its strategic objectives on private banking, enabling
the bank to concentrate on the needs of its high net worth international
clients with a blend of customised financial service products. The bank
continues to strengthen its international presence through its offices
in Tunisia, Libya, Canada, Australia and Italy."
Bank of Valletta Chairman, Joseph F X Zahra, stated that this award
continues to show that BOV is a strong financial institution with strong
business fundamentals and excellent prospects for the future. He said
that this award was significant especially when one notes that BOV has
been voted as best bank in Malta alongside prestigious international
names including BNP Paribas in France, Deutsche Bank in Germany, Credit
Suisse in Switzerland and the Royal Bank of Scotland in the United Kingdom.
Mr Zahra added, "This award is another encouraging announcement
following the positive financial results BoV has just issued. It shows
that BoV can live up to its reputation of being a proactive and innovative
Bank that responds effectively to the needs of the local market. It
also shows that the Banks efforts to internationalise further
its operations are being effective and successful.
In selecting these top banks, Global Finance considered criteria such
as growth in assets, profitability, geographic reach, strategic relationships,
new business development, and innovation in products. Subjective criteria
included the reasoned opinions of equity analysts, credit rating analysts,
banking consultants and others involved in the industry. The mix of
these factors yields leading banks that may not be the largest, the
oldest, or the most diversified in a given country or sector, but rather
the best - the bank with which corporations around the world would be
most likely to want to do business.