Month: November 2024

Bank of Valletta (BOV) announced the selection of Profile’s Axia Suite to enhance its portfolio management and investment services, aiming to improve efficiency and provide enriched services to its customers. With a 50-year legacy of serving the Maltese community, BOV is committed to continuing investing in technology, supporting its reputation for reliable, customer-focused service. The integration of Axia Suite will enhance BOV’s operational efficiency across key investment areas, including BOV Asset Management, Private Banking, and Prestige Client Network, enabling the Bank to meet the evolving needs of its clients.

Axia Suite provides a centralised platform for managing portfolios, providing investment advisory and brokerage services, allowing BOV to gain deeper insights into its clients’ investment goals. With tools for portfolio management, performance calculation and transaction processing, the new system enables BOV to optimise investments and manage risks. The platform’s advanced reporting capabilities enable the provision of up-to-date investment information to clients. The support for Straight-Through Processing (STP) also streamlines operations and minimises operational risks.

BOV’s Vision for Superior Client Service

Simon Azzopardi, Chief Personal & Wealth Officer at Bank of Valletta  highlighted the significance of this investment, stating, “We are excited to partner with Profile, a company committed to addressing the evolving needs of financial institutions. Axia Suite will allow BOV to deepen our understanding of clients’ investment needs and deliver tailored solutions that exceed expectations. This platform marks a significant advancement in our Investment Services and will provide our clients with a unique and enhanced experience.”

Profile’s Group Solutions Director, Mr Aris Iliopoulos, expressed pride in the collaboration, stating, “We are honoured that Bank of Valletta p.l.c. has selected our internationally awarded investment management platform in the effort to achieve its goals. We are confident that Axia Suite, characterised by its powerful functionality and flexibility, coupled with the fact that it is based on international standards of quality and excellence, will make a significant contribution to BOV’s future success.”

Strengthening BOV’s Commitment to Innovation and Excellence

The selection of the Axia Suite marks a significant step in BOV’s journey to innovate and strengthen its services, as it continues to uphold its commitment to the local market, delivering excellence in every interaction, aligning with its promise to put clients at the heart of its decision-making.

As part of BNF’s strategy to foster collaborative synergies with industry stakeholders, the Bank is partnering with the Department of Business & Enterprise Management, within the Faculty of Economics, Accountancy and Management (FEMA).

The Bank’s sponsorship will be channelled into the Department’s efforts to maximise the potential of collaborative research and drive innovation. The projects differ in nature, but they all have one common goal – to ultimately foster meaningful opportunities for growth and learning.

The Department is one of FEMA’s founders and has established itself as a key player in the business community through direct engagement, applied research and contribution to policy. This, besides playing a pivotal role in equipping students and future leaders for professional life.

Daniel Cutajar, BNF’s Chief Technology and Operations Officer shared the Bank’s belief that a strong, dynamic and agile business and enterprise eco-system is the backbone of the country’s economy. “In the context of volatile realities, rapid tech advancements and increased regulation, our role is to join institutions like FEMA so that, together, we can share trends, experience, insights and best practices and work towards strengthening skills, talent and human capital, and offer industry exposure to students.”

Professor Vincent Cassar, Head of Department – Business & Enterprise Management within FEMA thanked BNF Bank for its sponsorship, saying the Bank’s support will contribute to the Department’s resourcefulness. “We look forward to working closely with BNF to leverage its business acumen, its ability to develop its people and its vast expertise in the use of cutting-edge technology, and plug it into our projects, for the benefit of students and the sector at large.”

At the Malta Stock Exchange Awards Dinner on Friday 15th November, Bank of Valletta was given the prestigious award of Company of the Year for 2024. This coveted award recognises the BOV Group’s exceptional achievements in financial performance, corporate social responsibility (CSR), environmental, social, and governance (ESG) practices, as well as wider stakeholder engagement.

This milestone sets a new benchmark for Bank of Valletta, a testament to the Bank’s ongoing commitment to excellence and leadership across its key areas of operations. The award reaffirms the Bank’s position as a leader in the financial services sector and an advocate for sustainability, integrity, and customer-centric values.

In his acceptance speech, Dr Gordon Cordina, Chairman of Bank of Valletta, expressed pride in accepting the award on behalf of the BOV Board, recognising the commitment shown by all employees in this achievement, as well as the close collaboration between the Bank and its various stakeholders. “Part of the Bank’s transformation journey has been towards restoring profitability and making the BOV Group safe and secure both for the present and the future. This approach mirrors developments in the local economy, given the direct link between the two. The next part of the Bank’s journey is to focus on digitalisation and sustainability, and a commitment to leadership excellence in all aspects of the Bank’s operations. We want to be leaders in encouraging sustainable business practices, leaders in nurturing the economy during challenging times, and upholding strong compliance practices. Above all, we aim to demonstrate leadership through a servant approach, by putting the customer at the heart of everything we do.”

CEO Kenneth Farrugia highlighted the Bank’s achievements, crediting a clear strategic direction, a people-first approach, and a steadfast commitment to creating value for both customers and stakeholders. “This recognition aligns with the Bank’s 50th anniversary, making this award even more significant for us. Our success is due to initiatives on governance which have strengthened the Bank’s reputation, business operations, as well as integrating ESG principles and at the same time aiding our customers, both personal and business, in transitioning to a greener economy. The Malta Stock Exchange Company of the Year 2024 award showcases the dedication and professionalism of our employees, who consistently contribute to the Bank’s mission of being the preferred choice for our customers”.

The award was presented to Dr Cordina and Mr Farrugia by Simon Zammit, CEO of the Malta Stock Exchange, during an event held at the Phoenicia Hotel in Valletta.

Bank of Valletta, in collaboration with the European Investment Fund (EIF), has just launched two new attractive lending products aimed at local SMEs. The schemes are open to micro, small and medium-sized enterprises based in Malta and benefit from risk-sharing mechanisms guaranteed by the EIF. The new financing schemes BOV SME Grow and BOV SME Grow Green follow the successful take-up of similar schemes offered by BOV and EIF in the past, such as the JEREMIE and JAIME Financing Packages.

The innovative aspect of one of the loans, the BOV SME Grow Green, is to offer a more advantageous interest rate aimed at incentivising commercial clients to seamlessly transition to ‘green’. Businesses willing to invest in renewable energy or energy-efficient solutions such as PV Panels, heating and cooling systems, charging stations, insulation, electric vehicles, and other means of low-carbon emission measures, can all benefit from the BOV SME Grow Green lending product.

Both products offer a loan of up to €750,000 payable over a maximum period of 10 years. The BOV SME Grow is offered at a total variable interest rate of 3.8% and the BOV SME Grow Green at a total variable interest rate of 2.8%. Additional benefits include reduced collateral requirements and upfront contributions.

Speaking about the two new financing products announced by BOV and EIF, Bank of Valletta’s Chief Commercial Officer, Mr Simon Grech said: “By working closely with the European Investment Fund, we are well-placed to offer our business customers two very attractive financing schemes with low collateral requirements and low upfront contribution. The packages are available to a major part of Maltese economic sectors so that most SMEs in Malta can continue to grow and develop. Thanks to the Green alternative of this product, we continue to incentivise sustainable investment by incorporating a better price mechanism for investment costs that contribute towards a reduction in CO2 emissions.”

The BOV SME Grow and the BOV SME Grow Green are funded by the European Union through the European Regional Development Fund with the financial backing of the Republic of Malta under the InvestEU Member State Compartment for Malta. All loans are subject to normal bank lending criteria and final approval from the Bank. Business customers willing to benefit from the BOV SME Grow or the BOV SME Grow Green are invited to get in touch with the BOV Business Development & Customer Value Unit by calling 2275 1122 or by emailing businessdevelopment@bov.com. Further information can be obtained through the Bank’s website at https://www.bov.com/bov-sme-grow and https://www.bov.com/bov-sme-grow-green.

The HSBC Malta Foundation marked International Men’s Day with an initiative dedicated to supporting vulnerable men across Malta and Gozo, reaffirming the bank’s commitment to social responsibility and community well-being.

This year, the initiative saw the HSBC Malta Foundation collaborating with nine local schools and HSBC Malta employees to collect essential care items, including unutilised toiletries and hygiene products, which were distributed to nine NGOs that work directly with men facing hardship. The nine local schools are – St Augustine College, Stella Maris College,  De La Salle College and Chaplaincy, St Monica School Birkirkara, Kirkop Middle School, St Paul’s Missionary College, the Wardija Resource Centre, St Francis School (Gozo) and St Joseph Mater Boni Consilii School.

The collection drive culminated in a special ceremony at HSBC Malta’s headquarters, where representatives from the participating NGOs gathered to celebrate the spirit of the occasion. The event highlighted the importance of addressing specific challenges faced by men in the community and underscored HSBC Malta Foundation’s dedication to meaningful social impact.

Geoffrey Fichte, CEO of HSBC Malta, commented on the initiative: “Supporting our communities, especially vulnerable groups, is a core part of HSBC Malta Foundation’s mission. By engaging with local schools and NGOs, we aim to foster a sense of shared responsibility and care for those who need it most. International Men’s Day is a time to reflect on the challenges faced by men, and we’re proud to play a part in helping address these issues.”

This initiative aligns with HSBC Malta Foundation’s ongoing commitment to community support, emphasising that corporate responsibility extends beyond business goals, encompassing broader efforts to uplift and empower the communities it serves. Through these projects, the HSBC Malta Foundation continues to demonstrate leadership in corporate social responsibility, inspiring others to take action toward positive change in society.

The NGO’s who benefitted this time round where:- YMCA, Building Bridges, The Richmond Foundation, Sedqa Centru St Maria, the Migrants Commission, Dar Papa Frangsiku, St Jean Antide Foundation, ALS Malta and the Soup Kitchen in Valletta.

Anthony Camilleri on behalf of YMCA said: “We wish to express our gratitude and appreciation to you for helping YMCA Malta’s cause. Your support will increase our capacity to give hope and assistance to service users who benefit from the services delivered by YMCA Malta. Your continuous support, together with that of organisations, individuals, and companies, will determine the success of our programmes and services, which are provided to individuals and families whom we encounter on a daily basis. YMCA Malta is an NGO and voluntary organization that relies on fundraising, charity, and donations in order to continue giving its service to persons and families, including children who experience homelessness and youths from different walks of life. Your donation motivates and encourages us to strive for a more just society. Your support is invaluable and helps us further develop the services required by vulnerable communities.’