|Financial Market Development|
|4.4 (max 7.0), 43rd out of 138 countries|
|5.9 (max 7.0), 17th out of 138 countries|
According to World Economic Forum's Global Competitiveness Report 2017-2018, financial market development in Malta is scored 4.4 out of maximum 7.0 and ranked 43rd out of 138 analysed economies, trustworthiness and confidence of financial market is scored 4.4 (59th place).
Chart 1. Financial Market Development in Malta. Source: WEF.
Soundness of banks is scored 5.9 bringing Malta into the 17th place.
Chart 2. Soundness of Banks in Malta. Source: WEF.
|Maximum Protected Amount|
|100 000 EUR|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
From a depositor's point of view it is important to know:
All these details about deposit guarantee scheme in Malta are summarised in Table 1.
|Scheme Participants||all credit institutions operating in Malta, branches of non-EEA banks, branches of Maltese banks abroad|
|Scheme Exemptions||branches of EEA-banks (covered by their home countries)|
|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|
Table 1. Deposit guarantee scheme in Malta.
EEA stands for European Economic Area and consists of all EU member states plus Liechtenstein, Norway and Iceland.
Moody's country ceilings for deposits specify the highest rating that can be assigned to local- or foreign- currency denominated deposit obligations of a bank or other deposit taking institution domiciled within that country.
|Local Currency (Euro)|
Local currency (Euro) deposit ceiling for Malta is set to Aaa (prime), foreign currency deposit ceiling is Aaa (prime).
|Average Deposit Rate (Jan 2018, EUR)|
|0.78 % (unchanged)|
Chart 3. Deposit Rates in Malta. Source: ECB.
|Number of Banks|
|Consolidated Assets (2016)|
|46 384.43 mln EUR (-1.60%)|
|Recent Changes (2016)|
|new banks: 0, closed banks: 1|
Currently there are 26 credit institutions operating in Malta.
In 2016 consolidated banking assets in Malta were 46 384.43 mln EUR. The consolidated banking assets' evolution is shown at Chart 4 below.
Chart 4. Consolidated banking assets in Malta.
Recent structural changes (2013 - 2016) of the banking sector of Malta are summarised in Table 2.
|Number of Opened Banks||0||3||2||0|
|Number of Closed Banks||0||3||1||1|
Table 2. Recent structural changes in the banking sector of Malta.
The list of the most recently opened banks in Malta is provided in Table 3.
All the credit institutions operating in Malta can be classified into several categories. Table 4 summarises the number of banks in each category.
|Category||Number of Banks|
|Branches of foreign banks||3|
There are 3 branches of foreign banks from 2 different countries in Malta. Table 5 shows the number of branches grouped by the country of origin.
|Country of Origin||Number of Branches|