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Bank of Valletta:

Bank of Valletta is Malta's oldest bank and one of its largest.

1 History
2 List of Bank of Valletta's Branches in Malta and Gozo
- 2.1 Malta
- 2.2 Gozo
3 Bank of Valletta's ATMs in Malta and Gozo
- 3.1 Malta
- 3.2 Gozo
4 Sources
5 External links

[edit] History

In 1809, William Higgins established the Anglo Maltese Bank. Three years later, George Thomas Jackson established Banco di Malta. Also in 1812, Biagio Tagliaferro, a Genoese merchant, shipowner and ship-chandler established B. Tagliaferro and Sons, which in time would become Tagliaferro Bank. Then in 1830, the Scicluna family, also shipowners, established Joseph Scicluna et fils, which in 1926 became Sciclunas Bank.

In 1946, just after the end of World War II, Anglo Maltese Bank and Banco di Malta merged to form the National Bank of Malta. Three years later, Sciclunas Bank became affiliated to the National Bank, which changed its name to National Bank of Malta Group. The last addition to the group occurred in 1969 when B. Tagliaferro and Sons became part of the Group.

A crisis hit National Bank Group in 1973 when it faced a run on the bank. In a political move, Bank of Malta refused to act as a lender of last resort and blocked Barclays and other banks from supporting the Group. The next year Malta's government established Bank of Valletta (BOV) to take over the business of the National Bank of Malta. BOV then sold 9.6% of its shares to the Maltese public.

With a change in political attitudes, in 1975 BOV sold 20% of its share capital to Banco di Sicilia, and the next year acquired all the National Bank Group's assets and liabilities.

In 1987 BOV started to internationalize its operations by opening an office in London. Then in 1990, the bank moved closer to privatization when BOV issued 4,900,000 ordinary “B” shares to the general public, which brought the public's ownership to 28.2%. Two years later, BOV became the first public company to be listed and its shares quoted on the Malta Stock Exchange.

Internationalization continued as BOV established a representative office in Catania in 1993, and another in Toronto in 1994.

BOV was finally privatized in 1995 when the government sold 12,000,000 shares to the public, thus reducing its stake from 51.2% to 25.2%.

In 1996, BOV established a representative office in Milan. Four years later, BOV crossed the Mediterranean by opening one representative office in Tunisia and another in Libya.

Bank of Valletta also has a network of representative offices in Australia. Bank of Valletta is a founding member of Mediterranean Bank Network (MBN), established on the 28th November 1996 in the spirit of the European Union's 'Barcelona Declaration: Euro-Mediterranean Partnership' (28th November 1995) whose objective was and remains the creation of a Mediterranean area of shared prosperity with a strong private sector driven economy, a stable financial services sector and ubiquitous free trade.^[1]