13 - 19 September 2001

Financial Times publication names BOV as Bank of the Year 2001 in Malta

The Financial Times publication, The Banker, has granted Bank of Valletta the Bank of the Year in Malta 2001 award. This is a prestigious award in the banking sector, awarded by The Banker, the monthly banking title of the Financial Times Group. The announcement was made during an awards ceremony held recently at the Dorchester Hotel, London.
Since its inception in 1926 The Banker has been a trusted source of global financial intelligence. Its exclusive bank listings and banking coverage give it a unique perspective to reward excellence and innovation in banking.
Commenting on the award, bank chairman, Joseph F.X. Zahra said: “The award shows that Bank of Valletta has made significant progress through continued development of its core businesses and through the implementation of a more focused strategy. The bank has established a strong foundation on which to further build its businesses for the benefit of its customers and shareholders.”
In granting Bank of Valletta this award, The Banker noted that the past year saw a radical change in the Bank’s IT systems and architecture, all of which have been instrumental in providing the Bank with focused and customer centric services. The Banker also noted the deployment of the Bank’s high speed fibre-optic network, described by the leading French magazine, 01 Informatique, as being one of the most advanced in Europe.
The Banker commented positively on the executive management’s commitment in instilling the concepts of ownership, accountability and empowerment. The Bank also provides for its staff, training facilities and incentives to promote a professional, friendly and understanding approach and service that meets customers’ demands. Continual initiatives are taken to improve internal and external communication in order to identify customers’ needs at the earliest stage possible.
The Banker Awards is an annual event that looks at a bank’s growth and performance over the year in terms of thier capital, assets and return on equity. They must also demonstrate how use of technology is helping them advance their market position and show how their banking structure and strategy will equip them for future developments in their market – a particularly tough task in light of the current market conditions.