Gozo Bishop Anton Teuma on Sunday questioned plans by APS Bank to buy HSBC Malta, saying people should not allow money to “lead us by the nose”. 

His comments come after Teuma reportedly expressed concern about APS’s plans to take over HSBC. He has thus far declined to comment publicly on the matter. 

Last month, HSBC said it was undergoing a “strategic review” of its operation in Malta, which many interpreted as a sign of the international bank’s intention to cease operating in the country. 

Shortly after, it was revealed that APS Bank, which the Church holds a majority stake in, was in “advanced” talks to purchase HSBC Malta. 

The news has split financial experts and the clergy alike and ignited public discussion of the Church’s position in the banking sector. 

On Saturday, during a homily he gave at Ta Pinu Sanctuary Church, Bishop Teuma brought up the APS acquisition plans while moralising on the value of money. 

“Money is important but it is a means, not a goal,” Teuma said. 

“I think what I am saying can also shed light on what is being reported in the news - the manoeuvre undertaken by the bank that is traditionally associated with the Church,” he continued. 

“When we put money in its proper place and don’t allow it to lead us by the nose, that is how we are truly able to enjoy money.” 

Teuma was giving his homily following the reading of Sunday’s gospel, in which Jesus advised a man to sell all his wealth and give it to the poor, later telling his disciples that “it is easier for a camel to go through the eye of a needle than for a rich man to enter into the kingdom of God”.

The Church has since said it plans to continue “retreating” from the Maltese banking industry by further diluting its shares in the bank.