Malta is a small nation but it still has its own national bank, which is Bank of Valletta also known as BOV Malta. Valletta is the name of Malta’s capital city. Bank of Valletta was formed back in 1974 after an agreement was struck between the Malta Development Corporation and the Government of Malta. BOV was listed on the Malta Stock Exchange back in 1992.
Nowadays, Bank of Valletta is the only national bank. Up to around ten years ago Malta had another national bank which was Mid-Med Bank. The government decided to sell that bank to HSBC. Since then Bank of Valletta and HSBC have become the biggest banks in Malta. Many locals trust their hard earned money at Bank of Valletta but not only. Even foreigners and foreign businesses put their trust in BOV. Even though Malta is a small country, financially it has always been a solid country. The latest proof of this is the fact that the recession in 2009 didn’t affect Malta very much.
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