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.
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%. In 2014 the bank's profit before taxes was 300 000,00 EUR. 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.
Nemea Bank plc was headquartered in St Julian's.
|local and international clients; natural persons and legal entities|
term deposit accounts
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.
|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 before Taxes (2014)|
|300 000.00 EUR (+200.00%)|
|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.
|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 profit before taxes of Nemea Bank plc was 300 000.00 EUR. Growth compared to the previous period (2013) was 200.00%.
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 (2014)|
In 2014 there were 23 employees of Nemea Bank plc. Growth compared to the previous period (2013) was 109.09%.
|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, except for branches of non-EEA banks, 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|
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.
|Bank BIC Code||NMEA|
|Country Code||MT (Malta)|
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.
In 2014 Nemea Bank plc had 1 branches in Malta.