Banking Industry 720X242

Regional and global consolidations of business and financial markets and increased regulation are bringing about important changes in the banking and financial services industries. This is more significant in the light of the integration of the 2004 Maltese financial markets into the larger European Single Market, pushing market players in the banking industry in Malta into a larger financial playing field.

The banking industry in Malta has ridden the waves of the financial crisis successfully, proving the resilience of its economy and banks where much larger countries and banks faltered. In fact the World Economic Forum’s Global Competitiveness Report 2014-2015 ranked Malta amongst the top ten countries insofar as soundness of the banking system is concerned out of 144 economies and 13th for strength of auditing and reporting standards.

Capital buffers retained by local banks are among the highest in Europe and Maltese banks have consistently returned solvency ratios that are almost double the EU average. This is further witness of the soundness of the banking industry in Malta, and the reputable yet practical regulatory framework presented in the Malta Banking Act and the active supervision taken on by the Malta Financial Services Authority (MFSA), the regulator.

The Banking Industry in Malta

The Banking Industry in Mata has experienced noteworthy growth and continues to do so. The country’s banks provide a full range of personal, commercial and trade service to clients. Over the last years the number of credit institutions licensed by MFSA has increased from 4 retail banks to over 25 foreign or privately owned banks and 15 financial institutions. These include various respected names in international finance as well as a number of trade finance banks presenting specialized trade related instruments. The banking industry in Malta includes retail banking, private banking, commercial banking, investment banking, trade finance, treasury and syndicated finance.

Our Malta Banking Industry Team

Our specialised banking industry team consists of a multi-disciplinary team of legal advisors, accountants and tax specialists drawn from our banking, corporate, tax, and real estate practices who have an unparalleled span and depth of knowledge from working with an array of financial services companies, credit institutions, insurance entities, funds and investment services set-ups. Our consultants do not just focus on the legal and regulatory aspects of this industry but provide results-driven practical counsel to our financial clients on some of their most elaborate and unique transactions and to help them address some of their most challenging business matters.

Our Legal Team assists our financial and credit institution client portfolio in setting up and operating from a Maltese regulatory and legal perspective. We work hand in hand with the promoters, in-house legal and financial consultants, executives and other officers. Our Tax Team also assists in devising the most apposite and tax-friendly structure for each specific case.

Chetcuti Cauchi’s expertise and familiarity with the peculiarities of the banking industry in Malta amalgamated with our comprehensive understanding of local regulatory processes has placed us as the firm of choice for judicious clients seeking a consolidated financial services solution provider in Malta.

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Key Contacts

Dr Jean-Philippe Chetcuti

Senior Partner, Tax & Immigration

+356 22056111

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