Bank of Valletta assures staff and customers

Bank of Valletta has reassured its employees and customers it has no plans of laying off employees or removing services in the eventuality of European Union membership.

Indeed, in the coming months, the bank had the intention of employing more staff in specialised and front office roles, the bank's chairman, Joseph F.X. Zahra told staff in a circular yesterday.

Labour Party leader Alfred Sant on Tuesday evening called on Bank of Valletta and HSBC managements to issue a written guarantee they would retain their present work forces and keep all of their branches open if Malta joined the EU under a Nationalist government.

Dr Sant, who was taking part in a discussion meeting at Birkirkara was reacting to a statement by the two banks in which they assured shareholders, customers and staff that the banking sector was well positioned to meet the opportunities and challenges of possible EU membership.

At a mass meeting in Fgura last Sunday, Dr Sant had urged the two banks' employees to find out how they would be hit by membership.

The BOV circular said that "as a customer-centric financial institution, BOV will only sharpen and improve the services it provides to the community, while increasing its efficiency through the invaluable contribution of its staff.

"It also guarantees in clear terms, that all its employees will be retained, unless they freely apply for voluntary early retirement schemes and that the bank's investment in training and development will be even further strengthened".