Bank of Valletta is following with interest the emergence of Malta as one of the most attractive yachting centres in the Mediterranean, Chief Executive Officer Charles Borg said recently. Not only has the number of yachts flying the red and white flag increased with time, but Malta’s yachting sector in the larger economic context can offer a complete range of services - from registration to repair, refits and provisioning.

Yacht registration in Malta has been flourishing over the past years. Malta continuously strives to achieve as much success in the superyacht industry as it has in the aviation sector where recent legislation promoting registration created myriad opportunities. In the meantime, the development of new marinas, offering seasonal and permanent berths, offer more opportunities for people to buy their own boats.

All these developments are behind Bank of Valletta’s decision to offer a bespoke financial package to prospective yacht buyers- the BOV Boat & Yacht Finance. Loans sanctioned up to 15th November 2012, the Bank is offering 50% discount on fees and a loan term which can be extended up to 12 years.

The new package was launched to coincide with the BOV Boat Show, held recently at Senglea Wharf, which was opened by the Honourable Minister for Fair Competition, Small Business and Consumers Jason Azzopardi, organiser Mr John Formosa of Network Publications and Mr Charles Borg BOV’s Chief Executive Officer. This was the second time that the Bank has sponsored this popular event, which is growing year-on-year.

“BOV is proud to support this event which it considers to be an opportunity to offer assistance both to individuals interested to acquire a boat as well as to offer support to exhibitors with their business requirements in this dynamic sector,” Mr Borg said.