Mediterranean Bank acquires Volksbank Malta

The acquisition of VolksBank Malta was finalised today after receiving full regulatory approval from the Malta Financial Services Authority (MFSA).

The acquired bank has now been renamed Mediterranean Corporate Bank Limited and is set to become a local leader in providing corporate banking services to medium and large organisations.

“This deal is a key part of our strategy to enhance and broaden our corporate lending portfolio to Maltese clients,” said Mediterranean Bank’s CEO Mark Watson. “This is another positive step for Mediterranean Bank Group, following the opening of our Belgian business last year.

"Through Mediterranean Corporate Bank we will deliver innovative financing solutions to local medium sized and large businesses, using our balance sheet strength to bolster lending activities. Additionally we can provide market solutions through other entities in the group and provide a full spectrum of corporate services, from competitive Foreign Exchange services to a comprehensive and transparent payments capability.”

Mediterranean Corporate Bank will continue to invest in its products and services to provide domestic Corporates the 21st century banking services they require.

Simultaneous to the closing of the acquisition, Charles Cini was appointed as the CEO, and he will bring with him the Mediterranean Corporate Bank team to supplement the Volksbank staff.

Mediterranean Corporate Bank is a wholly owned subsidiary of Mediterranean Bank.