Prime Minister Joseph Muscat expressed his “worry” that a minister in the previous government failed to declare his Swiss bank account, when questioned about some of the current government ministers’ asset declarations.

Dr Muscat failed to stand by these declaration wholeheartedly, instead saying “I believe them as much as I believed the other ones,” referring to declarations made by ministers in the previous administration.

Speaking during a visit to Banif Bank’s HQ in Gzira, Dr Muscat welcomed the latest report by Standard and Poor’s, where Malta’s credit rating was confirmed, and the country’s outlook said to be positive.

After criticising the previous administration when Standard and Poor’s downgraded Malta’s rating to its current level, Dr Muscat today said that “It is not really the credit rating that is of interest, but the outlook.” 

Dr Muscat also said that the S&P report reflects positively on the government’s efforts in rejuvenating the energy sector.

Banif Chairman and former speaker of the House Michael Frendo explained that although Banif is all of five years old, it services 69,000 accounts and 32,000 clients.

Dr Frendo explained that the bank’s strategy is to be “the largest of the smallest, and the smallest of the largest.”