BOV recognised for inclusive banking and social impact by WSBI-ESBG

During the inaugural edition of the WSBI-ESBG SDG Awards Ceremony held in Washington, D.C., Bank of Valletta (BOV) was recognised with the ‘Inclusive Banking and Social Impact Award’, highlighting its leadership and tangible contribution towards achieving the United Nations Sustainable Development Goals. BOV Chief Executive Officer, Mr Kenneth Farrugia, and Chief Operations Officer, Mr Ernest Agius, were presented with the award by the Chief Executive Officer of the World Savings and Retail Banking Institute (WSBI), Mr Peter Simon.

The award was given in recognition of three initiatives undertaken by BOV in 2024. The first initiative was the introduction of a Staff Volunteering Programme, which enabled over 2,400 BOV employees to dedicate one working day to volunteering with local NGOs. Another initiative, which was handled together with the BOV Foundation, is a programme in collaboration with Migrant Women Association Malta, providing essential skills to migrant, asylum-seeking and refugee women for their social and economic integration in Malta. The third initiative is the annual BOV Volleyball Marathon in aid of Id-Dar tal-Providenza, which during 2024 yielded a record-breaking sum of over €460,000, which funded improved care, therapy, and facilities.

Speaking during the Award Ceremony, BOV CEO Mr Kenneth Farrugia expressed great satisfaction that the Bank’s efforts in favour of the vulnerable members of society did not go unnoticed. “Since its foundation, Bank of Valletta has always been a catalyst for Social Inclusion and Well-being. Last year, as we celebrated our 50th anniversary, the Bank introduced a Staff Volunteering Programme, which contributed to over 3,500 hours of community service by our people. This programme has strengthened local NGO capacity and reinforced a culture of social engagement within the Bank. Now in its second year, our employees are contributing even further to this programme, registering more engagement and leaving a greater impact.”

Mr Farrugia said that “Also coinciding with the Bank’s Anniversary, last year we established the BOV Foundation, which works hand-in-hand with our CSR Team in the execution of our ambitious and ample Corporate Social Responsibility Programme”.

Elaborating further, BOV Chief Operations Officer, Mr Ernest Aguis, who also sits on the Board of the BOV Foundation, said that “One of the most impactful projects handled by the Bank and its Foundation was the collaboration with Migrant Women Association Malta. The programme focused on the social and economic integration of migrant, asylum-seeking, and refugee women. Through training led by a professional Maltese fashion designer, participants acquired skills in sewing, tailoring, and design, gaining insight into Malta’s fashion industry.

Mr Agius noted that “Since its inception, the programme saw numerous participants who have already transitioned into self-employment or landed a formal job in the tailoring industry.” Details on Bank of Valletta’s SDG alignment and why it was chosen to be rewarded are found on the WSBI-ESBG’s website.