Banks in Malta

9 June 2017, updated 9 January 2019

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.

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 82.21%. 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, 3 banks are domestic Maltese banks while the other 2 banks are foreign-controlled.

RankNameMarket ShareBank CategoryCountry of Origin
4APS BANK P.L.C.5.51%Core Domestic Banks Malta
1Bank of Valletta (BOV)43.35%Core Domestic Banks Malta
5FIMBANK plc5.13%Non-core Domestic Banks Kuwait
2HSBC Bank Malta plc20.11%Core Domestic Banks United Kingdom
3MEDIRECT BANK (MALTA) PLC8.11%Core Domestic Banks Belgium
 

Core Domestic Banks

There are 6 core domestic banks operating in Malta having the market share of 82.34 % 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.

NameNumber of EmployeesNumber of BranchesBusiness Focus
APS BANK P.L.C.36111retail banking
corporate banking
wealth management
Bank of Valletta (BOV)163636personal banking
business banking
BNF Bank plc20112personal banking
corporate and business banking
HSBC Bank Malta plc137828retail banking
wealth management
commercial banking
global banking and markets
insurance
Lombard Bank Malta plc1667retail banking
private banking
wealth management
corporate banking
MEDIRECT BANK (MALTA) PLC3104retail banking
corporate banking
 

Non-core Domestic Banks

There are 5 non-core domestic banks operating in Malta having the market share of 8.66 % 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.

NameNumber of EmployeesNumber of BranchesBusiness Focus
FCM Bank Ltd111retail banking
corporate banking
foreign-exchange services
FIMBANK plc4171retail banking
corporate banking
IIG Bank (Malta) LTD262retail banking
private banking
wealth management
corporate banking
trade finance
foreign exchange
Izola Bank plc281retail banking
Sparkasse Bank Malta plc591private banking
investment services
custody services
 

International Banks

There are 9 international banks operating in Malta having the market share of 9.01 % 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
 United Kingdom
CommBank Europe Ltd.corporate lending
asset finance
infrastructure solutoins
utilities solutions
 Australia
Credorax Bank Limited (new)merchant payment processing
integrated acquiring
payment processing
 United States
ECCM Bank plc (new)retail banking
corporate banking
securities services
marine finance
payment services
invoice discounting
financian leasing
 Malta
Ferratum Bank plcretail banking
SME banking
 Malta
Merkanti Bank Limitedtrade finance
structured finance
factoring and forfaiting
inventory finance
bank guarantees
 Canada
NBG Bank Malta Ltdcorporate banking
wealth management
 Greece
Novum Bank Limitedretail banking Malta
Yapi Kredi Bank Malta Ltd (new)corporate banking 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 Banks35.00 0.00 0.13%
23Akbank TASBranches of Foreign Banks n/a
4APS BANK P.L.C.Core Domestic Banks1496.00 18.36 5.51%
1Bank of Valletta (BOV)Core Domestic Banks11767.31 175.00 43.35%
9BNF Bank plcCore Domestic Banks568.00 1.00 2.09%
7CommBank Europe Ltd.International Banks660.00 -4.00 2.43%
23Credit Europe NV Malta BranchBranches of Foreign Banks n/a
16Credorax Bank Limited (new)International Banks136.00 3.00 0.50%
11ECCM Bank plc (new)International Banks445.00 10.00 1.64%
18FCM Bank LtdNon-core Domestic Banks70.00 -1.00 0.26%
12Ferratum Bank plcInternational Banks261.00 11.00 0.96%
5FIMBANK plcNon-core Domestic Banks1393.44 10.00 5.13%
2HSBC Bank Malta plcCore Domestic Banks5459.38 50.00 20.11%
14IIG Bank (Malta) LTDNon-core Domestic Banks160.00 2.00 0.59%
13Izola Bank plcNon-core Domestic Banks206.63 4.00 0.76%
6Lombard Bank Malta plcCore Domestic Banks859.84 7.00 3.17%
3MEDIRECT BANK (MALTA) PLCCore Domestic Banks2200.27 17.00 8.11%
20Merkanti Bank LimitedInternational Banks15.00 1.00 0.06%
8NBG Bank Malta LtdInternational Banks645.00 7.00 2.38%
17Novum Bank LimitedInternational Banks89.00 2.00 0.33%
10Sparkasse Bank Malta plcNon-core Domestic Banks520.00 5.00 1.92%
23Turkiye Garanti Bankasi ASBranches of Foreign Banks n/a
15Yapi Kredi Bank Malta Ltd (new)International Banks158.00 1.00 0.58%
 

All the data are for 2017. Total assets and annual profit are provided in million EUR.

See Also

External Links

  1. Central Bank of Malta
  2. Finance Malta