Currently, there are 26 licensed banks in Malta, including three branches of foreign banks. Banks in Malta are governed by the 2002 Central Bank of Malta Act and the 1994 Banking Act. The Malta Financial Services Authority (MFSA) is the country’s single regulator that is responsible for issuing licenses and supervising credit and financial institutions.
According to Moody’s, the Maltese banking system is stable due to the resilience of the domestic banking system, with domestic banks following a conservative and traditional banking model.
For anyone considering a career in banking in Malta, this list of the top banks in Malta is a helpful guide on where to start. To learn more, see our lists of financial institutions.
The Top Banks in Malta are:
Bank of Valletta
Bank of Valletta was founded in 1974 and is headquartered in Santa Venera. The bank employs around 1,900 staff. It provides personal banking products and services, life insurance and retirement products, and various cards.
The bank also offers business banking products and services for small and medium-sized enterprises, as well as wealth management services and stockbroking, bancassurance, foreign exchange services, and Internet and mobile banking services. It operates through a retail network of 36 branches and agencies, as well as through representative offices in Australia, Belgium, Italy, and Libya.
Net income: EUR 13.8 million (2020)
Total assets: EUR 12.91 billion (2020)
HSBC Bank Malta
HSBC Bank Malta plc, a subsidiary of HSBC Europe BV, is the leading international banking and financial services group in Malta. It was formerly known as Mid-Med Bank plc and changed its name to HSBC Bank Malta plc in 1999. Headquartered in Valletta, Malta, it operates through its Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), and Global Banking and Markets (GB&M) segments.
As of December 31, 2020, it managed 11 branches and agencies in Malta, including one branch in Gozo.
Net income: EUR 7.57 million (2020)
Total assets: EUR 6.73 billion (2020)
Founded in 1994, FIMBank plc is a subsidiary of United Gulf Bank B.S.C. The bank operates through four segments: Trade Finance, Forfaiting, Factoring, and Treasury. Headquartered in St. Julians, it employs around 350 individuals.
Net income: USD -46.90 million (2020)
Total assets: USD 1.83 billion (2020)
Headquartered in Silema, Sparkasse Bank Malta plc operates as a subsidiary of Sparkasse Holdings (Malta) Limited. Established in 2000, the bank provides private banking, investment, custody, and depository services.
IIG Bank was founded in 2010. The bank specializes in private banking, wealth management, corporate banking, and trade finance. Its banking services include prime accounts, term deposit accounts, international trade finance, corporate banking, remittances/settlements, currency exchange, and internet banking. It also provides facilities and trade services, primarily to import/export trading companies. Headquartered in St Julians, it serves customers in Europe, the Middle East, Asia, and Africa.
Net income: USD -0.7 million (2020)
Total assets: USD 192.3 million (2020)
Akbank TAS is a Turkish financial institution that was established in 1948 to provide funding to local cotton growers. Currently, Akbank is a full-service universal bank that offers consumer banking, commercial banking, SME banking, corporate banking, private banking, foreign currency exchange, money markets and securities trading, and international banking services.
Akbank TAS operates as a branch of AKBANK TAS (Turkey), which was created in 2000.
Net income: USD 1.85 million (2020)
Total assets: USD 478.3 million (2020)
Established in 2012, AgriBank is a commercial bank based in Luqa. The bank provides finance lease and hire-purchase agreements to customers within the United Kingdom’s agricultural sector while operating solely through an online platform. AgriBank plc obtains its funding through retail deposits, wholesale funding, bonds, and equity.
Net income: GBP 0.23 million (2020)
Total assets: GBP 37.67 million (2020)
BNF Bank (formerly Banif Bank) was founded in 2007 and is based in Gzira. The bank operates 12 branches across the Maltese Islands and also manages three Corporate and Business Banking Centers, along with a local trading room. Its majority shareholder is Al Faisal International for Investment Malta Limited, a subsidiary of Al Faisal Holding Group, one of Qatar’s largest private diversified industry groups.
Net income: EUR 24.22 million (2020)
Total assets: EUR 901.21 million (2020)
Founded in 2010, FCM Bank specializes in savings and fixed-term deposit products. Headquartered in St. Julians, the bank operates online and manages only one branch in Malta.