As a partner of the Malta Maritime Forum since its inception, Bank of Valletta’s relationship with the shipping industry “has been vital for the operation of international trade and commerce, which is so important for Malta due to its insularity,” Kenneth Farrugia, CEO at Bank of Valletta, said during the recently held Malta Maritime Forum progress meeting.
“At BOV we recognise the long tradition of maritime services in Malta and seek to play our part by using our expertise to assist our clients to succeed in their shipping-related businesses. Our blend of knowledge, skills and expertise allows us to provide tailor-made financing solutions, designed to protect the interest of our customers and create value that drives them to success,” he continued.
Farrugia said that the bank is increasingly looking at ways to finance more sustainable and environmentally friendly shipping practices, such as low-emission vessels, retrofitting projects and supporting the development of new technologies.
BOV is currently also embarking on a multi-year programme of initiatives aimed at reducing greenhouse gases.
“As a leading financial institution, we continue to be actively involved in supporting the transition to a net-zero sustainable future and look forward to supporting our clients with innovative financing products focused on the reduction of emissions,” Farrugia said.
In a brief address, Malta Maritime Forum chairperson Godwin Xerri said that the forum represented one of the mainstays of the Maltese economy and was proud to collaborate with one of the main players in the island’s economy.
“The forum actively leverages the support and expertise made available through our cooperation with the bank to strengthen the availability of maritime-related data and statistics at the local level, as well as to increase the exposure of maritime services offered by Malta-based companies abroad.
“Through the sharing of knowledge and best practice, the forum looks forward to consolidating relations between the bank and maritime operators, thereby ensuring due recognition for their valuable contribution to Malta’s economy.”