7 NOVEMBER 2001

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Bank of Valletta ranked among world’s best 80 banks

Bank of Valletta has been placed among the top 80 eminent financial institutions listed in this year’s 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 Bank’s 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.

 



The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07
Tel: (356) 382741-3, 382745-6 | Fax: (356) 385075 | e-mail: editorial@networkpublications.com.mt