The Bank of Valletta Group enjoys a strong core equity Tier 1 ratio of 10.6 per cent, which is significantly above the minimum of nine per cent required by European regulation. This results from a report, published today by the European Banking Authority (EBA), on the level of capitalisation of European banks.

Core Equity Tier 1 ratio is the most commonly used measure of the adequacy of bank capital. It relates shareholder capital to risk-weighted assets.

“The capital strength of BOV is the result of the strategic priority that the Group gives to capital management, with the objective of securing the sustainability of both the Group and the Maltese financial system in the long term,” said group CEO Charles Borg. “Capital buffers are there to ensure business continuity, so the strength of these buffers must be maintained at all times. This is why we carry out internal capital forecasting and stress testing on a regular basis, as a central part of our risk management processes.”

As the largest financial services provider on the Island, BOV participates regularly in the stress tests conducted by the EBA, the MFSA and the Central Bank of Malta.

Bank of Valletta is a leading financial services provider in Malta and is licensed by the Malta Financial Services Authority to provide a full range of financial services, including private banking, fund management, bancassurance, stockbroking and trustee services. The Bank serves its clients via a national network of 41 branches, a corporate centre, 5 business centres and a wealth management arm. The bank has representative offices in Milan, Australia, Brussels and Libya and offers internet banking, telephone banking, mobile banking and the services of a customer service centre. Bank of Valletta issues bank cards under the VISA and MasterCard brands, and distributes American Express International Currency Cards in Malta.