BoV restructures Australian operation

Bank of Valletta has changed the network of representative offices in Australia, as a result of which operations will be consolidated into two principal offices, one in Sydney (New South Wales) and one in Sunshine, Victoria.

The offices in Blacktown (NSW) and Melbourne (Victoria) will be closed within the coming weeks, the bank said in a statement.

"Following a restructuring exercise, the bank is re-positioning itself to meet the challenges of the future in as cost-effective a manner as possible," it said.

"The patterns of customer behaviour and needs have been thoroughly analysed over the years and in the light of the results obtained, it has been decided to embark on a rationalisation programme that, while being totally transparent to BoV`s customers, will, however, maintain existing standards of service."

The bank said that the changes will have no impact on the level of service delivered to the bank, and that it would continue to pursue its original objective of offering a service to the Maltese emigrant community.