Bank returns profits in Q4 2011

“2011 has been a very significant year for Banif Bank (Malta) plc because since the last quarter, it has been returning profits,” Banif Bank (Malta) CEO and Director Joaquim F Silva Pinto announced at the beginning of his presentation to the bank’s fourth annual managers’ meeting.

“So, the financial year that has just come to an end will be remembered as yet another year when one more important target was achieved!”

During the meeting, the bank’s management critically and objectively evaluated and discussed the positive results achieved, the encouraging growth rate registered, as well as plans for the coming years.

The evening’s proceedings were opened by Banif Chairman Joseph Sammut who said with pride that Banif Bank was beginning its fifth year of operations in Malta, having opened in January 2008.

While marking the milestone, Mr Sammut remarked, “We need to closely monitor the progress achieved in reaching the set goals and what adjustments are required to our strategy, especially in the light of prevailing economic and social factors, which affect the environment in which we operate.”

Ronald Attard, Country Managing Partner and Head of Transaction Advisory Services (TAS) at Ernst & Young Malta delivered the keynote address. Mr Attard presented the latest results of the quarterly Ernst & Young forecast for the eurozone area, the individual country forecast for Malta, as well as an outlook for the financial services sector in the eurozone.

This was followed by a presentation by Mr Silva Pinto who outlined the plans and strategies for the coming three years that would guide Banif Bank in consolidating itself as the Alternative Maltese Bank, offering a banking experience based on high quality and innovative services.