Nemea Bank plc

Founded on 2 September 2008, Nemea is an online-only banks: it does not operate any physical branches. Nemea Bank provides a full range of services to individual clients, as well as to business clients. On 20 January 2017, the Malta Financial Services Authority (MFSA) announced its decision to propose to the European Central Bank (ECB) the withdrawal of Nemea Bank’s license. This decision was taken following the identification of a number of serious regulatory shortcomings in the Nemea Bank’s operations on 27 April 2016. MSFA also put a hold on withdrawals of deposits from Nemea Bank. On 24 March 2017, the ECB decided to withdraw Nemea Bank’s license.

Services

Personal Banking
Business Banking

Financials

Total Assets (2014)
24.00 mln EUR  (+166.67%)
Number of Employees (2014)
23  (+109.09%)

Nemea Bank plc was the 20th largest bank in Malta in terms of total assets. In 2014 its total assets were 24,00 mln EUR, providing the bank with the market share of 0.10%. Nemea Bank plc had 23 employees in 2014.

Nemea Bank plc participates in deposit guarantee scheme of Malta. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Contacts

Level 17, Portomaso Business Tower, Portomaso Avenue, STJ 4011, St Julian's, Malta
25708000
25708111
www.nemeabank.com

Nemea Bank plc was headquartered in St Julian's.

Bank Identifiers

BIC (SWIFT)
NMEAMTMTXXX
MFI ID
MTCINEMM
Close Date
March 2017

Business Summary

Eligible Clients
local and international clients; natural persons and legal entities
Services
personal banking
business banking
Products
current accounts
savings accounts
term deposit accounts
payment cards
consumer lending

Nemea Bank plc provides products and services in the areas of personal banking, business banking. The range of products offered by Nemea Bank plc includes current accounts, savings accounts, term deposit accounts, payment cards, consumer lending. Nemea Bank plc makes its solutions available to local and international clients; natural persons and legal entities.

Financial Positions

Total Assets (2014)
24.00 mln EUR  (+166.67%)

In 2014 total assets of Nemea Bank plc were 24.00 mln EUR. Growth compared to the previous period (2013) was 166.67%.

Profit and Loss

Annual Profit (2014)
200 000.00 EUR  (+400.00%)

Recent changes in gross profit of Nemea Bank plc and its main components are shown in Table 1.

2013 2014 % change
Net Interest Income 200 000.0 100 000.0 -50.00%
Net Commission Income 1 000 000.0 2 000 000.0 +100.00%
Table 1. Recent changes in gross profit of Nemea Bank plc ( EUR).

In 2014 annual profit of Nemea Bank plc was 200 000.00 EUR. Growth compared to the previous period (2013) was 400.00%.

Number of Employees

Number of Employees (2014)
23  (+109.09%)

In 2014 there were 23 employees of Nemea Bank plc. Growth compared to the previous period (2013) was 109.09%.

Market Share and Rank (among banks in Malta)

Total Assets (2014)
20th (market share 0.10%)

In 2014 Nemea Bank plc was ranked the 20th largest bank in Malta in terms of total assets, having 0.10% of the domestic market share.

Market share of Nemea Bank plc (among banks in Malta)

Chart 1. Market share of Nemea Bank plc (among banks in Malta)

Several banks having the market shares and ranks closest to Nemea Bank plc are shown below.

RankNameTotal AssetsMarket Share
19FCM Bank Ltd50.00 mln EUR0.25%
20Nemea Bank plc (closed)24.00 mln EUR0.10%
15Ferratum Bank plc21.00 mln EUR0.65%
 

Deposit Guarantee

Deposit Guarantee
Yes (up to 100 000 EUR per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Malta are obliged to participate in Maltese deposit guarantee scheme.

In the case of Nemea Bank plc failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Covered Accounts  most types of deposit are covered, including current, deposit and savings accounts
Maximum Protected Amount  100 000 EUR
Paid In Currency  in the same currency as the deposit

Further Information

BIC

BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.

A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).

BIC of Nemea Bank plc and its components are shown in the table below.

BIC  NMEAMTMTXXX
Bank BIC Code  NMEA
Country Code  MT (Malta)
Location Code  MT
Branch Code  XXX

MFI ID

MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.

The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.

MFI ID of Nemea Bank plc is shown in the table below.

MFI ID  MTCINEMM

Domestic Presence

Branches (2014)
1

In 2014 Nemea Bank plc had 1 branches in Malta.