Author: Mel Chamber

HSBC is focused on helping to deliver a net zero global economy. We aim to achieve net zero in our operations and supply chain by 2030 and in our financing portfolio by 2050.

Between now and then, we are working with our clients to help them reduce their emissions and scale up low carbon solutions, as we work to reduce our own. This will be a change over time, as businesses and economies progressively move away from high-carbon activities.

We can have the biggest impact by supporting our customers on their transition to lower emissions. Since 2020, we have provided and facilitated $210.7bn of sustainable finance and investment towards our ambition of $750bn to $1tn by 2030.

HSBC website

We publish a wide range of information on our performance in relation to environmental, social and governance (ESG) issues. We provide access to our ESG reporting resources which showcase how we support our different stakeholder groups and do business in a responsible way.

We provide case studies on how we support clients on their sustainability ambitions – driving impact for their business, employees and communities. These are more than just customer experiences, from transforming water to energy to agriculture technology (AgTech), from electrifying transport to vertical farming.  

In the Transition Pathways series which are designated for carbon-intensive industries, provide insight, expertise and solutions to help guide hard-to-abate sectors towards net zero. Additionally, in the “Insights” section of the HSBC Malta website, we periodically share our success stories in helping our clients in ambitious and innovative projects that make a positive difference to the environment and their ability to maintain their businesses sustainable long term.  

Supporting our corporate clients in the green and sustainable space

HSBC Malta offers several products to support our corporate clients in achieving significant improvements in the green and sustainable space.

Additionally, HSBC in Malta has recently joined forces with the Malta Development Bank (MDB) on a number of products. In this respect, it is worth highlighting specifically the MDB Guarantee Facility for Loans to SMEs.  The MDB Guarantee Facility for Loans to SMEs facilitates lending to smaller businesses that are viable but unable to obtain the required amount of finance from their commercial bank due to insufficient or inadequate collateral to meet the bank’s normal security requirements and / or the novelty or nature of the business venture that may fall outside the risk appetite and tolerance of commercial banks.

The MDB Guarantee Facility for Loans to SMEs is not limited to green and sustainable loans but can be certainly used in connection with them and HSBC is fully committed to support innovative business initiatives that align with the Net Zero Transition.

Other HSBC initiatives in Malta

HSBC in Malta additionally supports a number of initiatives to directly positively impact on the local environment.

Among many others, the HSBC Malta Foundation is supporting a project entitled ‘Establishing a Framework for Net Zero Buildings in Malta’. The aim of this project is to guide Malta towards achieving its climate goals by tackling the building and construction sector, with particular focus on operational carbon, i.e. the emissions of carbon dioxide and other global warming gases during the in-use operation of a building. This project provides a framework for net zero office buildings in Malta based on HSBC’s flagship net zero building in Qormi. The HSBC head office has been selected to perform building energy modelling as a case study to retrofit offices to more efficient buildings.

HSBC internationally and locally is fully committed to the net zero transition and looks forward to supporting its customers in this process. HSBC customers in Malta can contact their Relationship Manager for more information. Businesses that are not yet HSBC customers in Malta can enquire through our website.

BNF Bank p.l.c. has appointed Glen Smith as its Chief Risk Officer. Hailing from the UK, Mr Smith boasts over 30 years of experience in financial services and banking, specialising in risk and regulation, and occupying various senior management roles in both retail and corporate banking across various markets.

Prior to his appointment at BNF Bank, Mr Smith held the role of Senior Risk Manager with HSBC Continental Europe, based in the Paris Head Office. He was responsible for the management and oversight of wholesale credit risk activities, reporting, and regulatory and risk controls covering France, Germany and Malta, among other territories.

Chief Executive Officer Mr David Power welcomed Mr Smith to the Bank’s executive team, saying that this appointment will not only further strengthen the team, but also the Bank’s position in the market. The implementation of sound risk strategies aligns to the organisation’s over-arching agenda of being one of Malta’s strongest systemic financial institutions. “With seasoned leaders in place to scale and execute our plans, we can be confident in building on our customer-first strategy, offering a greater breadth of integrated solutions to support customer success.”

On his part, Mr Smith said he was looking forward to drawing from his experience and expertise to execute business models that advance the Bank’s profitability in a sustainable, cautious manner while contending with the staple changes in trends, markets and technologies. “I am eager to embrace the Bank’s vision and values, and to work closely with my colleagues to ultimately deliver the best products and services to the Bank’s loyal client base.”   

BNF Bank p.l.c. is a mainstay in Malta’s financial sector a key player in the community.  With a network of branches across Malta and Gozo, dedicated business centres and a trading room, the Bank offers financial products targeting individual and business needs, underpinned by personalised service excellence. 

BNF Bank is pleased to announce its positive financial performance for the first half of 2023, demonstrating robust growth and resilience in a dynamic market environment.

Net interest income remained the primary driver of the Bank’s profitability, showing a 28% increase to reach €16.1 million in the first half of 2023. The increase in net interest income in the first half of 2023 pertained not only to loan book growth, but also to the impact of rising interest rates, positioning the Bank for sustained financial success.

Despite increasing inflationary pressures, the Bank demonstrated prudent cost management, and has reported an improved cost-to-income ratio of 59.2% as of June 2023, compared to 62.8% in June 2022.

During this period, the Bank’s lending book grew by €34.0 million while maintaining its high credit quality. Non-performing exposure decreased by €1.0 million and remained largely secured with collateral, reflecting the Bank’s prudent risk management practices.

As of June 2023, the Bank’s Capital Adequacy Ratio was at 18.9%, reinforcing its solid financial position and remaining well above regulatory capital requirements. The Liquidity Coverage Ratio and Net Stable Funding Ratio remained healthy at 215.7% and 134.7% respectively.

The Bank’s growth combined with the commitment to continue delivering reliable banking solutions has contributed to its successful performance in the first half of 2023.

“We are pleased with the Bank’s strong position in the market and the positive trajectory we are experiencing,” said Mark Micallef, Chief Financial Officer at BNF Bank. ” With a strong focus on customer-centricity, prudent risk management, and sustainable growth, we remain dedicated to providing exceptional service and value to our customers and stakeholders.”

Are you a CEO facing relentless pressure from your board and shareholders to deliver exceptional results? The burning question is, how do you measure those results? Are they solely confined to numbers, or do they encompass the crucial realm of people-related metrics?

In today’s fast-paced business world, economic pressures often push CEOs and Business leaders to focus on figures, margins, and profits. Yet, amidst this financial element, one vital aspect often gets overlooked – the people driving the very success of these organisations. How can we truly achieve sustainable growth and success without putting people at the forefront of our strategies?

Think about it. Behind every profit and margin are dedicated individuals, the lifeblood of any thriving enterprise. It’s people who innovate, collaborate, and drive the numbers upward. They are the catalysts for transformative change, growth and success.

Despite this undeniable truth, we’ve noticed an alarming trend when it comes to CEO recruitment.  Related recruitment waves primarily seek candidates with backgrounds in Finance, ACCA qualifications, and Big-Four exposure. Naturally these are typically valid and great candidates and I personally know of many successful ones, but what about brilliant minds from diverse fields like Human Resources, Operations, or other domains?

Should they not be deemed equally eligible? Is our obsession with numbers overshadowing the broader potential that people-centric leadership can bring?

This and much more will be explored in the upcoming HR GIG 8, Redefining Leadership.  The event will explore the dynamic landscape of leadership from diverse perspectives, empowering the audience to challenge conventional norms and forge new paths.

Together we will discover innovative approaches, harness the power of vision, and unlock the keys to effective decision-making both from a Human Resources and Business dimensions.

Just as an outdated curriculum fails to equip students with the skills necessary for a successful career in the ever-evolving job market, CEOs who cling to traditional approaches in dealing with business metrics risk becoming irrelevant and leading their companies towards failure. Continuing to rely on conventional methods such as focusing solely on numbers and financial metrics is no longer sufficient. Instead, CEOs need to adapt their leadership styles by embracing innovation, fostering agility, and cultivating a people-centric culture. By doing so, they can effectively navigate the complex and rapidly changing business landscape, ensuring long-term success and contributing to the wider economy.

The scope of HR GIG 8 Redefining Leadership is to inspire and ignite the leadership potential within CEOs, decision makers, and HR professionals. Delegates will gain invaluable insights and actionable strategies to drive meaningful change in their organisations.

The event is taking place on 1^st September 2023 at The Xara Lodge from 8:30 till 12.30.  From 12:30 onwards will be networking, entertainment and refreshments.  The event website can be accessed here.

PwC Malta is pleased to announce the firm’s new appointments of Pamela Mamo and Mark Tabone as Directors within PwC’s Academy and Advisory lines of service respectively, and Etienne Bonnici who has been appointed as Chief Technology Officer (CTO).

David Valenzia, Territory Senior Partner at PwC Malta, says: “I am very proud of these new appointments, which have taken effect on 1 July 2023. These appointments reflect the continuing diversification of our business, and the multidisciplinary nature of our offerings.’’

Pamela is leading PwC’s Academy – the firm’s external training offerings, covering learning and education (L&E) strategies, e-learn developments, training platforms and learning architecture and delivery of client specific training solutions. Pamela first joined the firm in 2004 as an audit associate and in 2007 moved into an internal role to assist in setting up the Human Capital function of PwC.

In 2013, Pamela took over the responsibility for the strategy & business development aspect of PwC’s Academy leading a team of learning professionals. She has a key role in driving the Academy as a leading training service provider in line with the national quality education standards and in line with digital education requirements for the 21st century. She has an active role in providing L&E consulting
to clients, designing training curricula and scoping of courses, designing niche training products in line with Malta’s skills gaps, meeting clients to analyse their training needs and to assist them in translating their needs into effective training programmes. She continues to be one of the firm’s business skills trainers and has developed and delivered several training programmes to PwC’s managerial team and to PwC’s Academy external clients around the areas of learning, talent management, leadership and management skills, coaching, staff development & effective people communication.

Mark became part of the Assurance line of service at PwC Malta in 2003, gaining invaluable experience at PwC Jersey, London, and New York. He moved to the Advisory Deals practice in 2011 being specifically involved in Transaction Services, covering a range of areas such as due diligence, business valuations, impairment assessments and feasibility studies amongst others. He has managed a series of Financial Due Diligence projects both locally and internationally operating at PwC London and Milan.

Mark is presently responsible for the firm’s Mergers and Acquisitions sector in Advisory. The importance of M&A has, for some time, been highlighted by clients, with PwC investing in further developing a target team, whilst also collaborating with the PwC Corporate Finance network globally. Graduated at the University of Malta, Mark is a Certified Public Accountant holding ACCA and MIA fellowships.

Etienne has over 15 years of IT management experience within the firm and is responsible for leading and driving PwC’s Malta technology and information security strategy. Etienne joined PwC in 2002 after successfully completing his studies at the University of Malta and leads a team of technical experts in various environments. Over the years, he has been involved in the performance of systems and process controls reviews, including documenting and assessing controls over operations and management, application change control, computer operations, security administration, physical and logical security and disaster recovery planning for a number of clients. Etienne has also been responsible for providing outsourcing services for ICT infrastructure management and support to a number of clients in a range of industries.

PwC Malta continues to invest in differentiating capabilities that allow the firm to deliver on its purpose, to be a community of solvers coming together in unexpected ways and continuing to help organisations build trust and deliver sustained outcomes. These appointments demonstrate the plan for the sustainability of the firm, and reflect the opportunities that exist for all.