The member banks of the Malta Bankers' Association should support more effectively the Maltese economy while remaining mindful of safeguarding the good reputation of the financial sector, the chairman of the association said.

Marcel Cassar, chief executive officer of APS Bank, made the comments after he was re-elected chairman of the MBA for the coming year.

His appointment was announced following the association’s annual general meeting, at which Andrew Beane, CEO of HSBC Bank Malta, was re-elected deputy chairman for the same period.

Mr Cassar stated that the association would continue to actively promote cooperation, dialogue and advocacy between its members, the competent authorities and other relevant stakeholders.

In his capacity as MBA chairman, Mr Cassar also represents the association on the Board of the European Banking Federation.

The MBA is a full member of the federation which is committed to supporting policies that foster economic growth and jobs, and unites 32 national banking associations in Europe that represent some 4,500 banks employing about 2.1 million people and making loans in excess of € 20 trillion available to the European economy.