SATABANK plc

Established in 2014, SataBank offered a range of retail banking products (current accounts, payment cards, time deposit accounts as well as e-money accounts) to private individuals. SataBank also provided commercial banking solutions to corporates, which include merchant acquiring facilities and payment services. In October 2018, the Malta Financial Services Authority placed Satabank under administration due to money laundering concerns. On 26 November 2018, Satabank communicated that it would shortly begin returning deposits to certain personal customers, namely residents of Malta and having balances of between €50 and €15,000.

Services

Retail Banking
Corporate Banking
Merchant Acquiring
Payment Services

Financials

Total Assets (2016)
324.00 mln EUR  (+500.00%)
Profit before Taxes (2016)
6.00 mln EUR
Number of Employees (2015)
14

SATABANK plc was the 12th largest bank in Malta in terms of total assets. In 2016 its total assets were 324,00 mln EUR, providing the bank with the market share of 1.25%. In 2016 the bank's profit before taxes was 6,00 mln EUR. SATABANK plc had 14 employees in 2015.

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

Contacts

Aragon Business Centre, Dragonara Road,, STJ 3140, St Julian's, Malta
+356 2247 7900

SATABANK plc was headquartered in St Julian's.

Bank Identifiers

BIC (SWIFT)
STBAMTMTXXX
MFI ID
MTCISATA
Company Number
C 66993
Start Date
November 2014
Close Date
October 2018

Business Summary

Services
retail banking
corporate banking
merchant acquiring
payment services
Products
current accounts
time deposit accounts
payment cards
e-money accounts
Eligible Clients
private individuals
corporates

SATABANK plc provides products and services in the areas of retail banking, corporate banking, merchant acquiring, payment services. The range of products offered by SATABANK plc includes current accounts, time deposit accounts, payment cards, e-money accounts. SATABANK plc makes its solutions available to private individuals, corporates.

Financial Positions

Total Assets (2016)
324.00 mln EUR  (+500.00%)

In 2016 total assets of SATABANK plc were 324.00 mln EUR. Growth compared to the previous period (2015) was 500.00%.

Profit and Loss

Profit before Taxes (2016)
6.00 mln EUR
Annual Profit (2016)
4.00 mln EUR

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

2015 2016 % change
Net Interest Income 1.0 1.0 0.00%
Net Commission Income 1.0 3.0 +200.00%
Table 1. Recent changes in gross profit of SATABANK plc (mln EUR).

In 2016 profit before taxes of SATABANK plc was 6.00 mln EUR.

In 2016 annual profit of SATABANK plc was 4.00 mln EUR.

Number of Employees

Number of Employees (2015)
14

In 2015 there were 14 employees of SATABANK plc.

Market Share and Rank (among banks in Malta)

Total Assets (2016)
12th (market share 1.25%)

In 2016 SATABANK plc was ranked the 12th largest bank in Malta in terms of total assets, having 1.25% of the domestic market share.

Market share of SATABANK plc (among banks in Malta)

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

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

RankNameTotal AssetsMarket Share
11ECCM Bank plc (new)355.00 mln EUR1.64%
12SATABANK plc (closed)324.00 mln EUR1.25%
13PILATUS BANK PLC (closed)309.00 mln EUR1.19%
 

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, except for branches of non-EEA banks, are obliged to participate in Maltese deposit guarantee scheme.

In the case of SATABANK 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 SATABANK plc and its components are shown in the table below.

BIC  STBAMTMTXXX
Bank BIC Code  STBA
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 SATABANK plc is shown in the table below.

MFI ID  MTCISATA

Company Registration Number

Company Registration Number is a distinctive code issued upon registration of a new company. This code can be used to find data about the company in a national company register.

Company Number  C 66993

Domestic Presence

Branches (2015)
1

In 2015 SATABANK plc had 1 branches in Malta.