Mediterranean Bank has signed an agreement with Volksbank Austria to acquire 100% of the share capital of Volksbank Malta.
Since 2002, Volksbank Malta has operated as a fully licensed Maltese Bank and has provided banking services to the Maltese retail and corporate sectors.
Go deeper with GlobalData
Volksbank Malta has total assets of approximately 150 million and equity of approximately 56 million.
Mark Watson, CEO of Mediterranean Bank, said: "The purchase of Volksbank Malta will both consolidate and expedite our Maltese growth strategy through its portfolio of Maltese clients which is complementary to our existing customer base and aligned with our future growth strategies."
The purchase, which is subject to receipt of required approvals from relevant governmental and regulatory authorities, is expected to be completed in the coming weeks.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
