Bank of Valletta (BOV) has confirmed that a technical issue affecting the processing of salary and stipend payments on Tuesday morning has been fully resolved, with all affected customer accounts restored to their correct balances.

In a statement, the bank said that duplicate payments generated as a result of the issue have been successfully reversed and that no customers lost their legitimate salary or stipend entitlements during the incident.

BOV said it acted immediately after identifying the problem, implementing what it described as a "structured and controlled remediation process" to contain the issue and carry out the necessary corrections.

The disruption had raised concerns among some customers, particularly students who rely on stipend payments. The bank acknowledged the inconvenience caused and thanked customers for their patience and understanding while the matter was being addressed.

"At no point were customers' legitimate stipend or salary entitlements affected," the bank said, stressing that the corrective process was completed efficiently while maintaining a high level of care for customers.

The bank added that an internal review is continuing to determine the root cause of the incident. It said any necessary improvements to systems and controls will be implemented to strengthen operational processes and reduce the likelihood of a similar occurrence in the future.