During the annual awards ceremony held last month at The Dorchester Hotel in London, Bank of Valletta was named Bank of the Year in Malta for 2007 by The Banker, the monthly banking publication of the Financial Times Group. This is the third consecutive year, and the fifth time in the last seven years, that Bank of Valletta has won this prestigious award.

Upon receiving the award, BOV’s CEO, Tonio Depasquale, said, “This is an outstanding international achievement for Bank of Valletta – an award that we have now won for three consecutive years, after winning it back from competition in 2005. The Bank of the Year Award recognises BOV as the brand of choice in Malta, and the leading bank in terms of business fundamentals, results and growth.” Mr Depasquale added, “We are delighted with such international recognition that underlines the increasing strength of the BOV Brand, and the most valid and innovative work that we have undertaken in terms of customer service innovation over the past year.”

The ‘Bracken Award’ was presented to Mr Depasquale by Brian Caplen, Editor of The Banker. Mr Depasquale, together with BOV’s Chief Finance Officer, Mario Mallia, were in London on Wednesday for the awards night organised by The Banker.

The Banker has been a trusted source of global financial intelligence since 1926, and the Bank of the Year Awards listing has become an international key indicator of financial performance. This year marks the eighth awards listing by The Banker. For the country assessments, the global editorial team of The Banker reflects, not only on the latest results, growth and banking data, but also on technology and strategic developments. The award for a single bank in each country is for the best overall performance and qualitative achievements.

Commenting on the major factors that led to Bank of Valletta being named Bank of the Year in Malta, Mr Depasquale said, “Financial year 2007 was yet another record year for the BOV Group, during which we have registered our highest ever pre-tax profit – Lm43.7 (e101.8)million, representing an increase of 14 per cent on last year’s results. It was also a year during which BOV’s management focused on taking full advantage of Malta’s rapid development as a financial services centre”.

“The solid foundations and strong fundamentals that underpin our business enable us to look ahead with confidence. For the coming period, the BOV Group will continue to deliver on its brand promise, built on an unconditional commitment to a consistent and excellent customer experience, based on the principles of supportiveness and mutuality,” concluded Mr. Depasquale.