A creditor’s obligation to assess the creditworthiness of a consumer
by Ganado Advocates
23rd April 2024
by Bank of Valletta
14th September 2020
Bank of Valletta continues to support local businesses
Undoubtedly these past months have proved to be disruptive for most businesses. Bank of Valletta had from the very beginning immediately responded to the economic strain brought about by the COVID-19 pandemic and was at the forefront in assisting the business community to surmount these unprecedented challenges.
“Bank of Valletta pledged from the very start its commitment to help businesses to go through these unprecedented times and immediately launched a number of supportive measures,” stated Albert Frendo, Chief Credit Officer at Bank of Valletta. “One of the leading initiatives that left a significant impact on the economy was the BOV-MDB COVID Assist. Through our strong partnership with the Malta Development Bank, by end August, we had already approved over €192 million to more than 265 business entities directed towards their liquidity needs.”
“We are proud to be the main drivers of the scheme and from its launch till June, 80% of the total facilities approved under the MDB COVID-19 Guarantee Scheme were underwritten by Bank of Valletta. As Malta’s leading Bank, we are yet again providing the most tangible and key aid to the business community and contributing strongly towards the path to recovery of the Maltese economy.”
Apart from supporting businesses through financing, the Bank provides guidance on sound financial management and debt levels always encouraging businesses to seek the right leverage balance. “Securing funding to provide the necessary liquidity is critical, more so during these times. However one must be cognizant that what is borrowed today, needs to be repaid from income generation and profit margins of tomorrow hence prudence in these times is a key requisite,” explained the BOV Chief Credit Officer.
“While the future outlook is still uncertain, what remains clear is that businesses will require short-term liquidity, sound financing and the right strategies to recover and thrive. We will continue to support the revival of our economy by making immediate liquidity funding accessible to local businesses,” concluded Frendo.
The BOV-MDB COVID Assist provides funds at highly subsidised interest rates, reduced collateral requirements and a moratorium on capital and interest repayments so that business operators can meet working capital requirements, running costs and expenses. It benefits from the support of the MDB COVID-19 Guarantee Scheme.
Businesses seeking to avail themselves of the BOV-MDB COVID Assist are to send an email to smefinance@bov.com, or if they are BOV customers to their Relationship Manager, Business Centre or Corporate Centre. Further information can be found here.
All loans are subject to normal bank lending criteria and final approval from the Bank. Terms and conditions are available from www.bov.com. Issued by Bank of Valletta p.l.c., 58, Triq San Zakkarija, Il-Belt Valletta VLT 1130. Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking in terms of the Banking Act (Cap. 371 of the Laws of Malta).
by Ganado Advocates
23rd April 2024
by Ganado Advocates
5th April 2024
by CSB Group
5th April 2024
by Bank of Valletta
21st March 2024
by Bank of Valletta
18th March 2024
by Ganado Advocates
4th March 2024
by Ganado Advocates
23rd February 2024
by HSBC Bank Malta p.l.c.
19th February 2024
by Bank of Valletta
29th January 2024
by Bank of Valletta
17th January 2024
by CSB Group
12th January 2024
by Ganado Advocates
3rd January 2024
by Ganado Advocates
3rd January 2024
by Ganado Advocates
3rd January 2024
by Bank of Valletta
28th November 2023
by Bank of Valletta
23rd November 2023
by Bank of Valletta
3rd November 2023
by Ganado Advocates
1st November 2023
by Ganado Advocates
1st November 2023
by Ganado Advocates
1st November 2023
by Griffiths + Associates Ltd
31st October 2023
by Ganado Advocates
16th October 2023
by Bank of Valletta
29th September 2023
by Bank of Valletta
31st August 2023
by Bank of Valletta
28th August 2023
by Ganado Advocates
16th August 2023
by Ganado Advocates
16th August 2023
by Ganado Advocates
11th August 2023
by APS Bank plc
31st July 2023
by Ganado Advocates
28th June 2023
by Ganado Advocates
28th June 2023
by Ganado Advocates
28th June 2023
by Ganado Advocates
26th May 2023
by Bank of Valletta
7th May 2023
by Infocredit Group Limited
3rd May 2023
by Bank of Valletta
14th April 2023
by Ganado Advocates
10th April 2023
by CSB Group
14th March 2023
by Ganado Advocates
24th February 2023
by CSB Group
21st February 2023
by Griffiths + Associates Ltd
20th February 2023
by FinanceMalta
14th February 2023
by Bank of Valletta
31st January 2023
by CSB Group
19th January 2023
by Ganado Advocates
13th January 2023
by Ganado Advocates
13th January 2023
by Bank of Valletta
27th December 2022
by Bank of Valletta
21st November 2022
by BNF Bank plc
18th November 2022
by Bank of Valletta
3rd November 2022
by FinanceMalta
28th October 2022
by BNF Bank plc
6th October 2022
by Bank of Valletta
16th September 2022
by Bank of Valletta
2nd September 2022
by CSB Group
31st August 2022
by Bank of Valletta
11th August 2022
by BNF Bank plc
10th August 2022
by Griffiths + Associates Ltd
29th July 2022
by Griffiths + Associates Ltd
25th July 2022
by BNF Bank plc
14th July 2022
by Bank of Valletta
3rd June 2022
by Infocredit Group Limited
19th May 2022
by The Malta Institute of Accountants
13th May 2022
by Griffiths + Associates Ltd
9th May 2022
by Griffiths + Associates Ltd
3rd May 2022
by Infocredit Group Limited
28th April 2022
by Infocredit Group Limited
8th April 2022
by Infocredit Group Limited
8th April 2022
by Ganado Advocates
24th February 2022
by Bank of Valletta
16th February 2022
by BNF Bank plc
12th January 2022
by BNF Bank plc
3rd December 2021
by Western Union Business Solutions
1st November 2021
by FinanceMalta
8th July 2021
by FinanceMalta
8th July 2021
by FinanceMalta
8th July 2021
by Bank of Valletta
28th June 2021
by FinanceMalta
18th June 2021
by Bank of Valletta
1st June 2021
by Bank of Valletta
26th May 2021
by Bank of Valletta
25th May 2021
by Bank of Valletta
18th May 2021
by Bank of Valletta
17th May 2021
by Bank of Valletta
7th May 2021
by FinanceMalta
29th April 2021
by Bank of Valletta
13th April 2021
by Bank of Valletta
18th February 2021
by Western Union Business Solutions
5th February 2021
by FinanceMalta
14th January 2021
by Bank of Valletta
4th January 2021
by Bank of Valletta
21st December 2020
by Bank of Valletta
18th December 2020
by Bank of Valletta
18th December 2020
by Bank of Valletta
30th November 2020
by Bank of Valletta
29th September 2020
by Infocredit Group Limited
23rd September 2020
by Bank of Valletta
14th September 2020
by Bank of Valletta
2nd September 2020
by Bank of Valletta
19th August 2020
by APS Bank plc
3rd August 2020
by Bank of Valletta
31st July 2020
by Bank of Valletta
31st July 2020
by Ganado Advocates
17th July 2020
by FinanceMalta
10th June 2020