Bank of Valletta

Stock performance

History

Bank of Valletta was established in 1974 as the successor to the National Bank of Malta, which the government had taken over after a run on the bank in 1973. It was later partly privatized and listed on the Malta Stock Exchange, with the government retaining a significant stake.

Business model

BOV provides retail and corporate banking, wealth management, and insurance through a network of branches across Malta and Gozo, funding itself mainly through a large base of household deposits.

Market position

Bank of Valletta is Malta's largest bank by assets and deposits, ahead of HSBC Bank Malta and APS Bank, and one of the largest companies on the Malta Stock Exchange.

Country impact

As the dominant domestic lender, BOV is central to Malta's household savings, mortgage, and small-business finance. Tighter anti-money-laundering rules, especially while Malta was on the FATF 'grey list' in 2021-22, pushed BOV to shed riskier international clients and invest heavily in compliance.