Month: December 2025

Bank of Valletta’s longstanding collaboration with Fondazzjoni Wirt Artna was recently celebrated with a new exhibition at the Malta Time-Gun Museum in Valletta, which was officially inaugurated during a visit by members of the BOV Foundation.

The permanent exhibition, funded by the Bank of Valletta Foundation through its ongoing agreement with Fondazzjoni Wirt Artna, focuses on John Müller’s eighteenth-century artillery designs and different ancillary equipment as detailed in his ‘A Treatise of Artillery’ published in 1759. Mario Farrugia, Executive Chairman of Fondazzjoni Wirt Artna, noted that ‘A Treatise of Artillery’, an original copy of which is exhibited in this exhibition, was the most influential work on artillery published in English during the second half of the eighteenth century. The exhibition features several scientific models depicting mostly technical and logistical equipment used for the mounting or dismounting of cannon, transportation of ordnance, as well as the carriage of ammunition and repairs.

During the visit, Mr Farrugia expressed his gratitude to Bank of Valletta for years of dedication to the Foundation, which offers hands-on heritage across its nine museums. He noted, “The Bank’s funding has empowered the Foundation to pursue innovative approaches to preserve and present Malta’s military and cultural heritage.”

The BOV Foundation was represented by Anita Mangion and Isabella Cutajar, accompanied by Charles Azzopardi, Head of CSR, Events and Business Alliances. On behalf of the BOV Foundation, Anita Mangion remarked that the launch of this exhibition is a testament to the importance of historical knowledge and its relevance today. “The BOV Foundation remains committed to support such initiatives. Through our collaboration with Fondazzjoni Wirt Artna, we are proud to back projects that bring Malta’s rich military history to life and make it accessible to the public,” Ms Mangion stated.

Charles Azzopardi echoed Ms Mangion’s remarks, stating, “The collaboration with Fondazzjoni Wirt Artna reflects the Bank’s longstanding commitment to the community and heritage through its corporate social responsibility programme. Through the collaboration with Fondazzjoni Wirt Artna and its ‘Hands-on-Heritage’ programme, thousands of schoolchildren have visited sites managed by FWA. The success of this collaboration between the BOV Foundation and FWA is a testament to the commitment from both parties towards education and our rich cultural heritage. We are now well into the second generation of students attending these sessions, in sites that have continuously been upgraded through the efforts of Fondazzjoni Wirt Artna, which we are proud to call our partner.”

Bank of Valletta today reaffirmed its long-standing commitment to the community by presenting its annual donation to L-istrina during the live broadcast on national television. On behalf of Bank of Valletta and the BOV Foundation, a contribution of €312,000 was presented by BOV Chief Executive Officer Kenneth Farrugia, accompanied by Ernest Agius, Chief Operations Officer, and members of the Bank’s senior management team. The donation was made up of €62,000 contributed by children in Primary and Secondary schools across Malta and Gozo, and a donation of €250,000 by the Bank.

Speaking during the presentation, Mr Farrugia highlighted the spirit of solidarity that defines L-istrina and mirrors the values upheld by the Bank. “L-istrina is a powerful reminder of what we can achieve when we come together as a nation. Through the efforts of the BOV Foundation, we remain committed to supporting initiatives that offer tangible support and hope to those facing the most challenging of circumstances. This donation is our way of recognising the invaluable work carried out by the Malta Community Chest Fund throughout the year.”

Apart from the Bank’s own financial contribution, this donation once again includes funds raised through the L-Istrina BOV Piggy Bank Campaign, an initiative that encourages children across primary and secondary schools in Malta and Gozo to make small donations, fostering values of generosity, empathy, and social responsibility from a young age. Now in its 22^nd edition, the L-istrina BOV Piggy Bank Campaign continues to demonstrate how collective action can make a meaningful and lasting difference in people’s lives.

The L-Istrina BOV Piggy Bank Campaign has reached a key milestone, as the President of Malta, H.E. Myriam Spiteri Debono, officially commenced the donation counting process at Bank of Valletta’s Head Office. This symbolic event marks the final stages of the 22nd edition of this campaign that sees school children from across Malta and Gozo as its protagonists.

H.E. Myriam Spiteri Debono was welcomed at BOV Centre by Bank of Valletta Chief Executive Officer Kenneth Farrugia and Ernest Agius, COO and Deputy Chair of the BOV Foundation, along with other members of the Bank’s Executive Committee.

Since its inception, the campaign has united thousands of children in a simple but powerful act of generosity. They donate a little of their savings or pocket money to those in need. Every child’s contribution is supplemented through an additional donation by the Bank.  Since the initiative was first launched in 2004, Bank of Valletta has contributed well over €3.4 million to L-istrina, combining funds collected through the campaign with those directly donated by the Bank.

Addressing those present, H.E. Myriam Spiteri Debono thanked the management of Bank of Valletta for its continuous support throughout the year, including during the L-istrina BOV Piggy Bank campaign. She also acknowledged the altruism and commitment of the Bank’s employees, who every year voluntarily dedicate their time to assist in the process of counting donations collected from children in schools.

The President also praised the Bank’s commitment to assisting various non-governmental organisations that support people in difficulty, as well as its contribution to the cultural and artistic sphere in our country.

Kenneth Farrugia emphasised that, “Every donation collected through the BOV Piggy Bank Campaign carries a message of altruism, care and solidarity. Over the years, this initiative has shown how children can lead with generosity, with Bank of Valletta playing its part through additional financial contributions. We are proud to team up with schools across Malta and Gozo as we collectively continue to build a culture of giving in support of L-istrina’s mission year after year.”

Ernest Agius added, “This campaign, supported by the BOV Foundation, is not only about fundraising, but more importantly, it is about shaping values. By involving children from a young age, we are nurturing altruism, empathy and a sense of responsibility towards others. We look forward to the final total being announced during L-istrina on 26 December and, once again, making a meaningful difference in the lives of those who need support most.”

Highlighting the dedication behind the scenes, Ernest Agius explained how, “This occasion also serves to shine a light on the spirit of volunteering within the Bank. Our employees dedicate their time and energy to support the donation counting process through our volunteering programme, and we are proud to see their efforts make such an important and impactful contribution to the success of this campaign.”

With the donation-counting process underway, the final amount collected by schoolchildren will be revealed during the live L-istrina broadcast.

This year, President Myriam Spiteri Debono visited 21 state, church, and private schools as part of the L-istrina BOV Piggy Bank campaign.

Bank of Valletta is pleased to announce that it has been awarded the ISO 37001 certification, an international standard on Anti-Bribery Management Systems, designed to help organisations prevent, detect, and respond to bribery.

This certificate recognises the Bank’s clear policy and stance against bribery, its leadership commitment to actively support and promote anti-bribery efforts and its Compliance function overseeing the Bank’s Anti-Bribery Management Systems. The Bank was also recognised for its risk assessment, its reporting and investigation mechanisms and the due diligence it applies to projects, business associates and transactions. The regular training given to Bank employees and stakeholders, together with controls to monitor and prevent bribery-related activities was also given due consideration.

Commenting on this achievement, Kenneth Farrugia, BOV Chief Executive Officer, remarked that “attaining the ISO 37001 certification marks yet another significant milestone for the Bank, as it becomes the first local financial institution to achieve this prestigious international recognition. This reflects the Bank’s commitment to integrity and ethical business practices, further enhancing trust among the Bank’s stakeholders.”

Echoing the CEO’s remarks, Anatoli Grech, BOV Group Chief Compliance Officer, highlighted that “this certification reinforces the Bank’s culture that promotes and harnesses transparency and ethical behaviour. The ISO 37001 certification strengthens the Bank’s corporate reputation, both locally and internationally, and reaffirms the Bank’s strong position in the market.”

Bureau Veritas, an international leader in the Certification and Inspection industry, was appointed as the independent Certification body to verify that BOV operates in full conformity with the ISO 37001 standard.

Peter Cain, Country Manager of Bureau Veritas Malta, stated: “We commend BOV’s entire team for their professionalism and dedication in achieving this important certification, which reflects their commitment to excellence and ethical business standards. Bureau Veritas is thankful for BOV’s trust in our service, and we look forward to a long and successful partnership.”

This rigorous certification process underscores BOV’s unwavering commitment to ethical business practices, transparency, and organisational integrity, providing stakeholders with strong assurance of the company’s proactive stance on corruption prevention and stringent compliance protocols.

Bank of Valletta (BOV) is celebrating the third anniversary of its Voluntary Occupational Pension Scheme (BOV VOPS). With more than half of the Bank’s employees having already subscribed to the scheme, this is a strong vote of confidence in the bank and an indication that more people are taking their retirement seriously.

Introduced in 2022, BOV VOPS was launched as an employee benefit, supplementing the state pension and helping employees retain their desired standard of living once in retirement. The scheme, which is manufactured by MAPFRE MSV Life p.l.c., has become a cornerstone of BOV’s people strategy and a key element of its employer brand.

A standout feature of the scheme is the Bank’s financial commitment, matching an employee’s contribution up to €2,400 per year. This is a long-term commitment that continues to set BOV apart as an employer of choice. Upon joining the Bank, employees may also transfer their existing workplace pension into BOV VOPS, which is managed through a lifestyle investment strategy, based on employees’ age, ensuring risk management over time.

Speaking on the three-year mark of the pension scheme, Simon Azzopardi, Chief Personal and Wealth Officer, said, “This third anniversary is an important milestone for BOV. The fact that more than 50% of our colleagues are subscribed shows how deeply our people value long-term financial wellbeing. The strong financial contribution being made by the Bank sends a clear message that BOV stands shoulder to shoulder with its employees as they invest in their future.”

Ray Debattista, Chief People and Culture Officer, added, “The success of the Voluntary Occupational Pension Scheme demonstrates that relevant, forward-looking benefits resonate with our people and strengthen the Bank’s position as an employer of choice in Malta. Three years on, this scheme continues to strengthen our values of putting our people first.”

A Call to Employers

Bank of Valletta encourages other employers in Malta to introduce their own voluntary occupational pension schemes. The Bank is willing to offer practical support, sharing insights from its experience in launching and embedding the scheme, and providing guidance on implementation and employee engagement. The scheme helps employers in their efforts to prioritise employee financial well-being and become more attractive employers.

Local business leaders remain upbeat amid steady fiscal outlook as Malta’s deficit narrows and confidence stays high

PwC Malta has recently released its latest CEO Confidence Tracker and Economic Outlook with a particular focus on the recently announced 2026 Budget. Together, these two reports offer a view of Malta’s business leaders’ sentiment and an analysis of the local economy’s performance and trajectory.

CEOs remain upbeat on business performance and outlook, yet generally unenthusiastic by 2026 Budget measures

Our latest CEO Confidence Tracker suggests that local business performance remains strong. Nearly seven in ten CEOs (69%) reported stronger results in the recent quarter compared to the previous one, continuing the positive trend seen in earlier surveys. Despite global challenges including the geopolitical uncertainty and ongoing trade tensions, 92% of respondents expect economic conditions to stay stable or improve over the next six months. In the context of the recent 2026 Budget, CEOs were asked about the anticipated business impact. Nearly three-quarters (73%) of leaders stated that the measures are expected to have minimal impact on their operations. This is a notable increase from the 2024 survey, where at that point 64% felt the same about the 2025 Budget. This year-on-year change suggests a growing belief among CEOs that budget measures are not significantly altering their business landscape.

Malta’s budget balance projections indicate a gradual improvement over the period but remain in deficit throughout

In the meantime, the Budget 2026 Economic Outlook revealed steady improvement in Malta’s fiscal outlook. The country’s deficit, which was -3.5% of GDP in 2024, is projected to narrow to -3.3% in 2025 and -2.8% by 2026; below the EU’s 3% threshold. The debt-to-GDP ratio is also expected to decline, from 49.5% in 2024 to 47.1% in 2025, well below both the Euro Area average (88.3%) and the Maastricht ceiling of 60%. This provides fiscal flexibility for the years ahead. Government estimates for 2025 show that expenditure is set to increase by 8.8% above 2024 levels, outpacing government revenue which is expected to increase by 2.1% this year. This trend is expected to be reversed next year, as Government is projecting total receipts to grow by 4.9% in 2026, compared with expenditure growth of 2.8%.

Government’s ability to reign-in growth in recurrent expenditure in the coming years will be crucial in achieving the targeted reduction in deficit to below 3% of GDP, especially if economic growth slows. Lucienne Pace Ross, Territory Senior Partner at PwC Malta, commented: “Malta’s business landscape continues to demonstrate notable resilience. Strong performance and high confidence, alongside improving fiscal metrics, enable organisations to pursue strategic planning with more certainty. At PwC, we’re here to support leaders convert these insights into actionable strategies that promote growth and stability.”

The HSBC Malta Foundation has once again renewed its support for the EkoSkola programme, reinforcing a long-standing partnership with Nature Trust Foundation for Environmental Education (FEE) Malta that stretches back well over a decade. The collaboration reflects the Foundation’s commitment to empowering young people to become agents of positive environmental change in their schools and communities.

Since the early 2000s, EkoSkola has grown into Malta’s leading Education for Sustainable Development initiative, engaging students across all levels of education in hands-on environmental learning, democratic participation, and community-driven action. HSBC Malta Foundation has consistently supported this journey, recognising that meaningful, lasting sustainability requires long-term investment rather than short-term interventions.

Through this renewed contribution, the Foundation is once again enabling students to take on practical environmental leadership roles. Each participating school works through a structured process that includes assessing their surroundings, identifying areas for improvement, and implementing projects that address real sustainability challenges. Initiatives have ranged from sustainable mobility and biodiversity monitoring to responsible consumption campaigns and the strengthening of students’ environmental literacy.

The EkoSkola programme’s impact now reaches deeply into the national education system. Schools are increasingly functioning as sustainability hubs, where students not only learn about environmental issues but actively shape solutions. The most recent awards ceremony recognised schools that have excelled in this process, including both long-standing participants and new entrants to the Green Flag community. The event also marked a milestone with the introduction of a new initiative acknowledging collaboration between schools and local councils, celebrating partnerships that extend sustainability efforts into the wider community.

Speaking on behalf of HSBC Malta Foundation, Glenn Bugeja said that the Foundation’s commitment is rooted in the belief that environmental awareness must be matched by hands-on experience: “We are proud to continue supporting EkoSkola, a programme that empowers young people to take meaningful action. When students engage directly with sustainability, they develop not only knowledge but also confidence, leadership skills, and a sense of responsibility towards the world around them.”

Nature Trust – FEE Malta expressed its appreciation for HSBC Malta Foundation’s ongoing support, noting that the sustained partnership has contributed significantly to the programme’s long-term success and its ability to reach thousands of students across Malta and Gozo.

HSBC Malta Foundation looks forward to continuing this collaboration, strengthening the country’s pathway towards a more sustainable future and ensuring that the next generation has the tools, values, and opportunities to lead it.

Bank of Valletta is pleased to mark the successful launch of ‘Moving with the Wind, Like Waves’, a contemporary art project held at the Inquisitor’s Palace in Birgu. The exhibition was launched to an engaged public, drawing strong interest from visitors, artists, and cultural stakeholders alike.

Developed and curated by Elyse Tonna and commissioned by the BOV Foundation, this art project unfolds as a large-scale exhibition, public programme, and forthcoming publication, transforming the Inquisitor’s Palace into a living site of artistic inquiry. Selected through a highly competitive open call, the nine participating artists, Victor Agius, Laura Besançon, Ryan Falzon, Wioletta Kulewska Akyel, Julian Micallef, Jacob Saliba, Sheldon Saliba, Matthew Schembri and Tom Van Malderen, worked closely with Elyse Tonna and with the support of the Heritage Malta site curatorial team.

Across installation, sound, sculpture, film, drawing and painting, the artists engage with concepts of memory, gesture, ecology, ritual, inscription and care. Rather than reconstructing a singular historical narrative, the works reveal the quieter forces: movements, marks, residues and sensorial impressions that persist outside official documentation, expanding how the Inquisitor’s Palace can be read and experienced today.

The opening weekend offered a first glimpse into the wider public programme with a series of performances. Featured practitioners included a string quartet, Abigail Agius with a performance rooted in the histories of women and witchcraft at the Palace, Alien Montesin responding choreographically to the architecture of the main staircase, Matthew Schembri with durational writing performances and Ryan Falzon presenting readings drawn from his ongoing research. These opening events set the tone for the full programme, which will continue throughout December with workshops, conversations and guided explorations. The programme also includes creative workshops for children, a culinary-ecological conversation in the historic kitchen, a somatic movement workshop for the elderly, a hands-on film-processing workshop and a large-scale exploratory walk through the building.

Curator Elyse Tonna said, “This project brings contemporary artistic practice into direct conversation with one of Malta’s most historically complex sites. The Inquisitor’s Palace holds layers of memory, silence and transformation and all the participating artists in the exhibition and public programme approach it with sensitivity and depth. Through months of research and collaboration, they developed works that do not seek to illustrate history, but to sense what persists at its edges: the unseen, the undocumented, the gestures that linger. I am grateful to the BOV Foundation for trusting this vision and supporting the kind of rigorous, process-based work that Malta urgently needs.”

Ernest Agius, Deputy Chair of the BOV Foundation and BOV Chief Operations Officer, said, “The BOV Foundation is deeply committed to supporting projects that broaden cultural participation and encourage artistic experimentation. The successful launch of ‘Moving with the Wind, Like Waves’ affirms our belief in art’s ability to transform how we engage with heritage spaces and contemporary narratives. We are proud to support a project that brings together exceptional Maltese and international talent and opens up new ways of experiencing one of Malta’s most historically significant sites.”

‘Moving with the Wind, Like Waves’ is open to the public at the Inquisitor’s Palace in Birgu until the 4^th of January 2026. Visitors can experience the full exhibition during regular museum hours, with access included in the standard Heritage Malta entry ticket. Throughout its run, the project will continue to evolve through its public programme, curatorial tours and a series of closing-day interventions that further activate the site.

As part of this year’s European Week for Waste Reduction (EWWR), one of the standout initiatives by Bank of Valletta was the creation of a robot constructed entirely from electronic waste. “Roborg”, built from discarded electronics in line with this year’s theme of Electric and Electronic Equipment Waste, greets all visitors and employees entering BOV Centre in Santa Venera.

It is an interactive interface that shares simple but powerful facts about e-waste. It reminds us that e-waste is the fastest-growing waste stream, and that only 20% of it is properly recycled. It also explains that valuable materials like gold, silver, copper and lithium are hidden inside old devices, thereby increasing the level of waste generated. Roborg is a tangible reminder that what is thrown away can still have value, and that smarter choices start with awareness.

Roborg is just one of the many initiatives that Bank of Valletta is implementing in its efforts to make a tangible positive impact on the environment. In 2025 alone, over 6,800kg of electronic waste was disposed of responsibly through Waste Electric and Electronic Equipment recycling, aligning with its ESG obligations, both internally with employees and externally with its customers.

As part of its Digitalisation programme, with the ultimate aim of reducing paper usage, the Bank’s EPOS machines at retail outlets no longer issue customer receipts automatically with card transactions. In addition, BOV is now requesting digital invoices from its suppliers, electronic signatures via DocuSign on Third-Party Contracts, and issuing digital payslips and FS3s for its employees. These initiatives have already resulted in an estimated annual reduction of 120,000 sheets of paper.

Worth mentioning is the “Bring Your Own Container” initiative undertaken by the Bank’s canteen, which encourages employees to bring reusable containers when purchasing food and beverage items. Charity bins for the collection of BCRS containers have been introduced in every unit, encouraging employees to recycle plastic bottles, with redeemable vouchers donated to animal shelters. This year alone it is estimated that over 62.3kg of recycled waste has been saved from ending up in landfills.

Held every year at the end of November across Europe, the EWWR aims to promote sustainable resource and waste management, whilst raising awareness and encouraging practical actions to reduce, reuse, and recycle waste. The initiatives undertaken by the Bank are a true testament that, beyond commemorating the European Week for Waste Reduction, reducing carbon footprint and caring for the planet are embedded in the Bank’s daily running of its business.