Banks in Malta

9 June 2017, updated 24 January 2020

Due to its strategic location at the crossroads linking Europe, Africa and the Middle East, Malta has been attracted the interest of the various dominant cultures for about the last 7,000 years. Since the 1980s Malta has followed a strategy of developing a financial services centre. Malta’s joining the European Union in 2004, and the eurozone in 2008 played a crucial role in establishing its status as a key business hub in the Euro-Mediterranean region. Malta has been through a signicant transformation of its banking sector over the last decade, from a tightly controlled publicly owned sector to the diversified and efficiently regulated one with high degree of liberalisation and foreign ownership. Almost half of the banks operating in Malta (10) have domestic capital, while 13 banks are foreign-controlled (representing 9 different countries, namely the United Kingdom, Turkey, Australia, the Netherlands, United States, Kuwait, Belgium, Greece, Austria).

Maltese Banking Sector Structure

Currently there are 23 banks operating in Malta, including 3 branches of foreign banks.

The Central Bank of Malta classified the rest 20 banks based on the provided solutions and the served customers into the following 3 categories:

Maltese Banks Total Assets Market Shares of Maltese Banks Maltese Banks Profit Before Taxes

Major Banks

Total assets of 5 major banks in Malta comprise 82.17%. Among the five major banks 4 banks are core domestic banks and 1 bank (FIMBank plc) is classified as a non-core domestic bank. In terms of country of origin, 2 banks are domestic Maltese banks while the other 3 banks are foreign-controlled.

RankNameMarket ShareBank CategoryCountry of Origin
4APS BANK P.L.C.6.64%Core Domestic BanksMT Malta
1Bank of Valletta42.44%Core Domestic BanksMT Malta
5FIMBank plc5.66%Non-core Domestic BanksKW Kuwait
2HSBC Bank Malta p.l.c.19.29%Core Domestic BanksGB United Kingdom
3MeDirect Bank (Malta) plc8.14%Core Domestic BanksBE Belgium
 

Core Domestic Banks

There are 6 core domestic banks operating in Malta having the market share of 82.43 % of total assets. Core domestic banks usually operate as universal banks and offer a wide range of banking solutions with the focus on retail banking products and services for local residents, both individuals and business entities. Core domestic banks are the key providers of lending and deposit products to the residents of Malta and hence are mostly funded by customer deposits. Core domestic banks also offer private banking, wealth management and corporate banking solutions. Core domestic banks operate via a network of brick-and-mortar branches.

NameBusiness FocusCountry of Origin
APS BANK P.L.C.retail banking
corporate banking
wealth management
MT Malta
Bank of Vallettapersonal banking
business banking
MT Malta
BNF Bank plcpersonal banking
corporate and business banking
MT Malta
HSBC Bank Malta p.l.c.retail banking
wealth management
commercial banking
global banking and markets
insurance
GB United Kingdom
Lombard Bank Malta plcretail banking
private banking
wealth management
corporate banking
MT Malta
MeDirect Bank (Malta) plcretail banking
corporate banking
BE Belgium
 

Non-core Domestic Banks

There are 5 non-core domestic banks operating in Malta having the market share of 9.76 % of total assets. Non-core domestic banks also operate as full-service banks, but these bank are focused on providing their products and services to non-residents of Malta while offering only a limited set of banking products and services to Maltese residents, usually restricted to deposit taking. Non-core domestic banks also offer private banking, wealth management, corporate banking and securities services.

NameBusiness FocusCountry of Origin
FCM Bank Ltdretail banking
corporate banking
foreign-exchange services
MT Malta
FIMBank plcretail banking
corporate banking
KW Kuwait
IIG Bank (Malta) LTDretail banking
private banking
wealth management
corporate banking
trade finance
foreign exchange
MT Malta
Izola Bank plcretail bankingMT Malta
Sparkasse Bank Malta plcprivate banking
investment services
custody services
AT Austria
 

International Banks

There are 9 international banks operating in Malta having the market share of 7.82 % of total assets. International banks offer their services primarily to individuals and businesses residing outside of Malta. International banks are usually specialized banks, focused on a particular area or a particular customer group.

Several international banks operate in Malta as direct banks providing their products via Internet:

Other international banks provide products and services to their customers in their countries of origin:

NameBusiness FocusCountry of Origin
AgriBank PLCfinancial lease
hire purchases
retail banking
GB United Kingdom
CommBank Europe Ltd.corporate lending
asset finance
infrastructure solutions
utilities solutions
AU Australia
Credorax Bank Limitedmerchant payment processing
integrated acquiring
payment processing
US United States
ECCM Bank plcretail banking
corporate banking
securities services
marine finance
payment services
invoice discounting
financian leasing
MT Malta
Ferratum Bank plcretail banking
SME banking
MT Malta
Merkanti Bank Limitedtrade finance
structured finance
factoring and forfaiting
inventory finance
bank guarantees
US United States
NBG Bank Malta Ltdcorporate banking
wealth management
GR Greece
Novum Bank Limitedretail bankingMT Malta
Yapi Kredi Bank Malta Ltdcorporate bankingTR Turkey
 

List of Banks in Malta

The list of bank operating in Malta and their selected financial data is shown below.

RankNameBank CategoryTotal AssetsProfit before TaxesMarket Share
19AgriBank PLCInternational Banks37.00 -0.22 0.13%
23Akbank TASBranches of Foreign Banks n/a
4APS BANK P.L.C.Core Domestic Banks1891.00 18.63 6.64%
1Bank of VallettaCore Domestic Banks12094.44 71.20 42.44%
7BNF Bank plcCore Domestic Banks767.00 3.56 2.69%
11CommBank Europe Ltd.International Banks418.00 -6.00 1.47%
23Credit Europe NV Malta BranchBranches of Foreign Banks n/a
16Credorax Bank LimitedInternational Banks110.00 15.44 0.39%
9ECCM Bank plcInternational Banks595.00 16.62 2.09%
17FCM Bank LtdNon-core Domestic Banks57.00 -3.64 0.20%
12Ferratum Bank plcInternational Banks282.00 13.87 0.99%
5FIMBank plcNon-core Domestic Banks1612.86 12.99 5.66%
2HSBC Bank Malta p.l.c.Core Domestic Banks5495.62 38.55 19.29%
15IIG Bank (Malta) LTDNon-core Domestic Banks156.00 -5.07 0.55%
13Izola Bank plcNon-core Domestic Banks237.15 2.44 0.83%
6Lombard Bank Malta plcCore Domestic Banks919.24 12.63 3.23%
3MeDirect Bank (Malta) plcCore Domestic Banks2320.41 21.47 8.14%
20Merkanti Bank LimitedInternational Banks17.00 0.62 0.06%
10NBG Bank Malta LtdInternational Banks524.00 8.55 1.84%
18Novum Bank LimitedInternational Banks57.00 8.56 0.20%
8Sparkasse Bank Malta plcNon-core Domestic Banks719.00 6.00 2.52%
23Turkiye Garanti Bankasi ASBranches of Foreign Banks n/a
14Yapi Kredi Bank Malta LtdInternational Banks185.00 0.79 0.65%
 

All the data are for 2018. Total assets and annual profit are provided in million EUR.

See Also

External Links

  1. Central Bank of Malta (external ref)
  2. Finance Malta (external ref)