25 January 2006

The Web
Business Today

BOV and Malta Enterprise in strategic alliance

Bank of Valletta and Malta Enterprise have signed an agreement which will see both sides collaborating into a new business strategic alliance. This agreement recognises Bank of Valletta as the Sponsor of Malta Enterprise’s Innovation Projects namely the Kordin Business Incubation Centre (KBIC) and Business Technology Network (BTN).
The strategic business alliance agreement was signed today by Ing. Philip Micallef, CEO of Malta Enterprise and John Soler, Chief Officer Credit for Bank of Valletta plc during a media tour of the Kordin Business Incubation Centre.
As a result of this agreement, Bank of Valletta will be working closely with Malta Enterprise and with clients being serviced at the Kordin Business Incubation Centre with the possibility of assisting, help analyse and advise project applicants in the business development stages as well as on financing options relevant to the respective applicants. Thanks to this collaboration, Bank of Valletta will also be actively participating in the Malta Enterprise’s Malta Regional Innovation Strategy (MARIS).
“We are extremely proud that once again, we are associating ourselves with Malta Enterprise through this close collaboration that will see Bank of Valletta actively involved in Malta Enterprise’s efforts to foster new business projects,” said John Soler. “Bank of Valletta is already the strategic partner and main sponsor of the Business Technology Network Malta (BTN) Program launched by Malta Enterprise in September of last year - a project to assist technology transfer and access to finance for start-up companies. Today we are pleased to announce that BOV will also be the main sponsor of the Kordin Business Incubation Centre. We view KBIC as an ideal place to nurture, grow, and launch technology oriented businesses. Our support will also see BOV placing its financing expertise at the disposal of the business start-ups operating within the KBIC facility. This, together with the other facilities provided at KBIC, including training and mentoring as well as networking opportunities, should provide the necessary level of support to enable each enterprise manage its business effectively.”
Soler explained the underlying reasons that led BOV to enter into this new business strategic alliance with Malta Enterprise. “Besides a will to see the local business potential flourish, our support to Malta Enterprise also forms part of the seventh pillar of BOV’s Community Programme under which the Bank is committed to be supportive to the operations of business associations and bodies. The signing of this agreement takes our collaboration with Malta Enterprise to a higher level and forms part of BOV’s strategy to support small and medium sized businesses – adding value in this area and sustaining economic growth through the development of new business opportunities,” added Soler.
BOV is at the forefront in supporting SMEs. The Bank today operates a network of Business Centres, the sole focus of which is to assist small and medium sized businesses through the provision of value added financial services. “This concept builds on BOV’s relationship banking strategy whereby specialised employees are being deployed to support the specific needs of the business sector. Through the Bank’s Business Centres, the right infrastructure has been created to enable BOV to focus on the individual needs of each business customer, adding value through a relationship built on mutuality and understanding,” concluded Mr. Soler.

Business Today is published weekly on Wednesdays.
Website is updated weekly on Thursdays
Copyright © MediaToday., Malta
Editor: Kurt Sansone
Business Today, MediaToday, Vjal ir-Rihan, San Gwann
Tel: (356) 2138 2741 | Fax: (356) 2138 5075 | E-mail