International credit rating agency Fitch Ratings this week affirmed the long-term credit rating of the Bank of Valletta Group at A-, with a stable outlook.

In arriving at its decision, Fitch cited the bank’s strong capital and liquidity, the improving quality of its loan book and its prudent business model. The bank, Fitch notes, relies for its funding on a large and stable customer base and keeps significant buffers of liquidity. Its investment portfolio is of good quality and conservatively managed.

BOV’s ratings have been confirmed at this high level at a time of unprecedented financial crisis, when most international banks were being downgraded or placed on negative watch. The confirmation testifies both to the strength of the bank itself, and also to the stability of the Maltese banking system, which, thanks to its prudent risk management practices, has come through the crisis virtually unscathed.