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Banks paid €133 million in tax in 2011
HSBC Malta chief executive elected chairman Malta Bankers’ Association
HSBC Malta chief executive Mark Watkinson.
The chief executive of HSBC Malta, Mark Watkinson, has been elected chairman of the Malta Bankers' Association for 2012.
The new board is composed of Bank of Valletta chief executive Charles Borg, Edward Cachia, Marcel Cassar, Dr Michael Ellul Sullivan, Mario Gauci, Thomas Haag, Joseph Said, Henry Schmeltzer, and Joaquim Silva Pinto.
The combined balance sheet total of the association's member banks as at the end of 2011 expanded to just over €50 billion, whilst total equity surpassed the €10 billion mark.
The number of their full time employees was close to 4,000 and the direct contribution of the banking sector to the local economy remains significant, with payroll last year amounting to €123 million, taxation on profit on ordinary activities reaching €133 million, and dividends paid to resident shareholders amounting to over €55 million.
Loans and advances to customers totalled €18 billion, with amounts owed to customers standing at €18.3 billion.
Watkinson expressed satisfaction at the continued resilience of the Maltese banking sector, which is underpinned by strong capital and liquidity ratios. The MBA said this has ensured the continued flow of credit to domestic households and businesses in support of the island's drive to achieve sustainable economic growth in the prevailing challenging environment.
"It is a credit to the Sector that Malta's banking business was ranked as the 12th soundest out of 142 countries by the World Economic Forum in its Global Competitiveness Report for 2011-2012," Watkinson said.
The following banks are members of the Association: Akbank T.A.S., APS Bank Ltd, Banif Bank (Malta) plc, Bank of Valletta plc, BAWAG Malta Bank Ltd, CommBank Europe Ltd, Credit Europe Bank N.V., Deutsche Bank (Malta) Ltd, Erste Bank(Malta) Ltd, FCM Bank Ltd., FIMBank plc, Fortis Bank Malta Ltd, HSBC Bank Malta plc, IIG Bank (Malta) Ltd, Investkredit International Bank plc, Izola Bank plc, Lombard Bank Malta plc, Mediterranean Bank plc, NBG Bank Malta Ltd., Nemea Bank plc, Raiffeisen Malta Bank plc, Sparkasse Bank Malta plc, Turkiye Garanti Bankasi A.S., VoiceCash Bank Ltd and Volksbank Malta Ltd.
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All this tax money yet still gonzipn ends up every year with record deficits. Can Dr Gonzi and Mr Tonio(know it all) Fenech explain where all this money is going to, as we do not see much improvement in sectors that really matter like education and health? If gonzi is happy with flowery round abouts and spouting fountains the people are not and prefer lower taxes and service tariffs.
