The Bank of Valletta (BOV) announced yesterday that it will pass on a record Lm350,000 as community investment during the financial year 2007.

Speaking during a press conference, BOV chairman Roderick Chalmers said the sum consists of 1.25 per cent of the pre-tax profits for the financial year 2005. He also announced that the bank is launching its first Corporate Social Responsibility (CSR) report.

Mr Chalmers stressed the bank’s commitment to playing a leading and effective role in the country’s sustainable development. He added that although CSR has become very fashionable lately, BOV has been aware of its position in the community for many years. The CSR report is only a tangible and transparent way of showing this concept, he added.

The bank’s chairman explained that the BOV Community Programme for 2007 will rest on seven pillars: the environment, heritage, arts and culture, sports, social, business strategic alliances and education. He reiterated the bank’s intention of maintaining its position as a leading patron of the arts and culture in Malta through the investment in upgrading the Tarxien Temples and the restoration of Palazzo Falson in Mdina and the Emvin Cremona paintings at Ta’ Pinu, Gozo.

He also commented on the bank’s sponsorship of the major football leagues and the basketball knockout

competitions, as well as the support given to L-Istrina.