In a counter judicial protest filed in court on 6 August 2015, Bank of Valletta p.l.c has categorically rebutted allegations that it acted negligently and recklessly in its dealings with a South African businessman.

In its counter protest, the Bank intimated that, in the execution of its duties towards the claimant, it always acted in good faith and with the necessary level of competence, prudence and diligence required and denied any allegation that it was responsible for any loss allegedly suffered by the claimant.

Bank of Valletta was referring to a report appearing in the media in connection with allegations made against it by a certain South African businessman.

In a statement issued by bank CEO Charles Borg, the bank said that Valletta Fund Services Limited, a subsidiary of Bank of Valletta p.l.c., against whom the allegations by the South African Businessman were directed has also rejected any allegation of negligence or wrong doing.

From an initial investigation carried out by the Bank, there appears to be no basis for the allegations being levelled at the Bank and no evidence has been brought forward by the South African businessman concerned to sustain his allegations.  

In these circumstances the bank said it cannot conscientiously accept those allegations as if they were facts.  The bank said it will continue to investigate the allegations in greater depth and if those detailed investigations were to reveal any evidence that suggests a different course of action, then the bank will be the first to act in line with the evidence available to it at the time.

Man claims €70,000 frauduently withdrawn from BOV account