President George Abela inaugurated Mediterranean Bank’s new Paola branch on 7 March.

Welcoming President Abela, chairman Francis J Vassallo said: “Mediterranean Bank made very solid progress in 2010, both in terms of profitability and new customers. As part of our long-term strategy, we plan to expand locally and abroad, as we establish MedBank as a leading provider of savings and wealth management products.”

The new branch is another step on the Bank’s long-term strategy to develop MedBank’s connectivity with the Maltese customer base by offering a cutting-edge internet banking service supplemented by a series of branch openings scheduled for 2011. Customers are recognising the consistency of MedBank’s brand, and 2011 has begun with a growing number of customers and an exceptional response to the bank’s new Legacy Savings Account.

The ceremony was brought to a close by CEO Mark Watson, who thanked President Abela for his support in gracing the event with his presence.

The consumer banking team is led by Ray Calleja, whilst the Paola branch is under the management of Christian Farrugia. The new branch is located at 127, First Floor, Antoine De Paule Square, Paola.

The Bank’s IT department, led by Jonathan Jones, is also based at the branch.