Banks in Malta

9 June 2017, updated 30 December 2017

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 25 banks operating in Malta, including 3 branches of foreign banks.

The Central Bank of Malta classified the rest 22 banks based on the provided solutions and the served customers into the following 3 categories:

Maltese Banks Total AssetsMarket Shares of Maltese BanksMaltese Banks Annual Profit

Major Banks

Total assets of 5 major banks in Malta comprise 80.74%. 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
5 APS Bank Limited4.94%Core Domestic Banks Malta
1 Bank of Valletta (BOV)41.06%Core Domestic Banks Malta
4 FIMBANK plc5.88%Non-core Domestic Banks Kuwait
2 HSBC Bank Malta plc21.90%Core Domestic Banks United Kingdom
3 MeDirect Bank (Malta) plc6.96%Core Domestic Banks Belgium
 

Core Domestic Banks

There are 6 core domestic banks operating in Malta having the market share of 80.11 % 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 Limited26211retail banking
corporate banking
wealth management
 Bank of Valletta (BOV)151837personal banking
business banking
 BNF Bank plc15812personal banking
corporate and business banking
 HSBC Bank Malta plc141426retail banking
wealth management
commercial banking
global banking and markets
 Lombard Bank Malta plc1568retail banking
private banking
wealth management
corporate banking
 MeDirect Bank (Malta) plc2636retail banking
corporate banking
 

Non-core Domestic Banks

There are 6 non-core domestic banks operating in Malta having the market share of 9.51 % 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 Ltd121savings accounts
fixed-term deposit accounts
 FIMBANK plc3871retail banking
corporate banking
 IIG Bank (Malta) Ltd142private banking
wealth management
corporate banking
trade finance
 Izola Bank plc191retail banking
 MFC Merchant Bank Limited81trade finance
structured finance
factoring and forfaiting
 Sparkasse Bank Malta plc401private banking
investment services
custody services
 

International Banks

There are 10 international banks operating in Malta having the market share of 10.37 % of total assets. International banks offer their services primarily to individualsand 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:

NameNumber of EmployeesNumber of BranchesBusiness Focus
 AgriBank PLC121leasing and hire-purchase
retail deposits
 CommBank Europe Ltd.101corporate lending
asset finance
 Credorax Bank Limited (new)821merchant payment processing
 ECCM Bank plc (new)101corporate banking
securities services
 Ferratum Bank Plc1721online micro-loans
online savings
 NBG Bank Malta Ltd271corporate banking
wealth management
 Novum Bank Limited701micro-loans
credit cards
prepaid cards
 PILATUS BANK PLC (new)101corporate banking
 SATABANK plc (new)141retail banking
corporate banking
 Yapi Kredi Bank Malta Limited (new)81corporate banking
 

List of Banks in Malta

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

RankNameBank CategoryTotal AssetsAnnual ProfitMarket Share
22 AgriBank PLCInternational Banks29.00 0.00 0.11%
25 Akbank TASBranches of Foreign Banks n/a
5 APS Bank LimitedCore Domestic Banks1285.00 11.00 4.94%
1 Bank of Valletta (BOV)Core Domestic Banks10682.29 95.00 41.06%
9 BNF Bank plcCore Domestic Banks523.00 2.00 2.01%
7 CommBank Europe Ltd.International Banks618.00 12.00 2.38%
25 Credit Europe NV Malta BranchBranches of Foreign Banks n/a
18 Credorax Bank Limited (new)International Banks100.00 19.00 0.38%
11 ECCM Bank plc (new)International Banks355.00 6.00 1.36%
19 FCM Bank LtdNon-core Domestic Banks66.00 -1.00 0.25%
15 Ferratum Bank PlcInternational Banks169.00 3.00 0.65%
4 FIMBANK plcNon-core Domestic Banks1531.15 5.00 5.88%
2 HSBC Bank Malta plcCore Domestic Banks5697.40 40.00 21.90%
17 IIG Bank (Malta) LtdNon-core Domestic Banks146.00 3.00 0.56%
14 Izola Bank plcNon-core Domestic Banks197.42 2.00 0.76%
6 Lombard Bank Malta plcCore Domestic Banks843.69 4.00 3.24%
3 MeDirect Bank (Malta) plcCore Domestic Banks1811.91 15.00 6.96%
21 MFC Merchant Bank LimitedNon-core Domestic Banks53.00 1.00 0.20%
8 NBG Bank Malta LtdInternational Banks585.00 6.00 2.25%
20 Novum Bank LimitedInternational Banks59.00 -1.00 0.23%
13 PILATUS BANK PLC (new)International Banks309.00 3.00 1.19%
12 SATABANK plc (new)International Banks324.00 4.00 1.25%
10 Sparkasse Bank Malta plcNon-core Domestic Banks485.00 3.00 1.86%
25 Turkiye Garanti Bankasi ASBranches of Foreign Banks n/a
16 Yapi Kredi Bank Malta Limited (new)International Banks149.00 -1.00 0.57%
 

All the data are for 2016. Total assets and annual profit are provided in million EUR.

See Also

External Links

  1. Central Bank of Malta
  2. Finance Malta