01 December, 2023

BNF Bank achieves Third-Country Branch Authorisation in the United Kingdom


BNF Bank p.l.c. has been approved to operate a third-country branch in the United Kingdom, the only local bank that has been licenced to do so. BNF was authorised by the Prudential Regulation Authority (PRA), within the Bank of England, with the consent of the Financial Conduct Authority (FCA).

Consequently, as a dual regulated firm, BNF Bank p.l.c.’s activities in the United Kingdom will now be subject to regulation by the PRA and oversight by the PRA’s European Banks Team and by the FCA, from a conduct perspective.

Since 2019, BNF Bank has been actively operating in the United Kingdom through its established branch in London, and later operating under the Temporary Permission Regime implemented in the United Kingdom as from December 2020.

“The recent approval from the PRA and the FCA further reinforces the Bank’s commitment to operating in the United Kingdom in strict adherence to all regulatory standards,” said BNF Chief Commercial Officer George Debono.

“The Bank looks forward to continuing its operations with the highest level of compliance and professionalism along with providing our clients with the unique opportunity of assisting them with their UK banking requirements,” he added.

Chief Executive Officer David Power explained that the license is approved with immediate effect, as of the 14th December 2023, which means that the Bank is now able to re-open for business in London. “The United Kingdom is a key part of our Vision 26 Strategy, which was recently approved by the Board of Directors. Being the only local bank with this opportunity, will allow us to expand into the UK market and offer unique products and services not only to our Maltese customers, but also to acquire new customers to the bank who are based in the UK.” he concluded.

All News

View All

13 February, 2025

BOV commemorates international day of women and girls in science...

...

Learn More
07 February, 2025

HSBC Malta Foundation supports new online programme for young patients...

...

Learn More
07 February, 2025

PwC Digital’s AI Business Survey reveals a large gap in strategic pl...

...

Learn More
04 February, 2025

HSBC Malta extends partnership with Malta Development Bank to support ...

...

Learn More

All News

View All

Sponsored Content

13 February, 2025

BOV commemorates international day of women and girls in science...

...

Learn More

Sponsored Content

07 February, 2025

BOV retail conference strengthens customer experience...

...

Learn More

Sponsored Content

07 February, 2025

HSBC Malta Foundation supports new online programme for young patients...

...

Learn More

Sponsored Content

07 February, 2025

PwC Digital’s AI Business Survey reveals a large gap in strategic pl...

...

Learn More

upcoming events

View All

Upcoming Events

25 February, 2025

Scaling Up - Strategies for Next-Level Growth & Leadership

...

Learn More

Upcoming Events

07 March, 2025

IBN St. Patrick’s Day Gala Dinner 2025

...

Learn More

Upcoming Events

10 March, 2025

Effective Strategies for Debt Collection: A Practical Legal Approach for Businesses

...

Learn More

Upcoming Events

12 March, 2025

Build and Share: Sustaining Malta’s Growth - Business Breakfast

...

Learn More

upcoming events

View All

25 Feb
upcoming event 25 February, 2025, 06:00 PM

Scaling Up - Strategies for Next-Level Growth & Leadership

Learn More
07 Mar
upcoming event 07 March, 2025, 07:00 PM

IBN St. Patrick’s Day Gala Dinner 2025

Learn More
10 Mar
upcoming event 10 March, 2025, 09:00 AM

Effective Strategies for Debt Collection: A Practical Legal Approach for Businesses

Learn More
12 Mar
upcoming event 12 March, 2025, 08:30 AM

Build and Share: Sustaining Malta’s Growth - Business Breakfast

Learn More