APS Bank plc has just launched a new product, ‘APS Green Term Deposit’. The inaugural event was held at the APS Hub in St Julian’s, where speeches were delivered by Marcel Cassar, APS Bank CEO, and Hon. Miriam Dalli, Minister for the Environment, Energy and Enterprise.

The APS Green Term Deposit is the first fixed term deposit of its kind in Malta, where customer deposits will be used solely to finance environmental-friendly projects and companies that qualify as green lending. The deposits are to be denominated in Euro, will be for fixed terms of up to five years and shall benefit from competitive interest rates.

“The addition of the APS Green Term Deposit is an evolution of our current suite of sustainable finance products and in line with our ESG strategy. It is aligned with our values and builds on our well-known tradition, and reputation, of providing innovative, impactful products for the communities and businesses that we serve,” Cassar said. 

Minister Dalli said: “It is encouraging to see that APS Bank and many other players in the banking industry are embracing sustainability in their operations, while at the same time adopting green initiatives in their holistic framework. This financial product is an opportunity for APS Bank to expand its green product suite and more importantly create a green liability book for the company. So, it is promising to see how this bank has continuously embraced the country and the government’s goal of achieving a green economy as soon as possible.”

Dr Dalli also commended the Bank for joining the Malta ESG Platform, the Government’s initiative for listed companies to assess and demonstrate their attainment of key ESG criteria.