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.
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 the deposit guarantee scheme of Malta. This deposit guarantee scheme applies to most types of deposits made by natural persons (Maltese and foreign), legal entities (Maltese and foreign) and covers up to up to 100,000 EUR per bank per depositor. SATABANK plc is a member of Depositor Compensation Scheme (DCS) and makes its contributions into it.
SATABANK plc was headquartered in St Julian's.