Get in touch - Bank of Valletta - BOV Group
Customer Service Centre - Bank of Valletta - BOV Group
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Our History
A brief outline of Bank of Valletta's history
Our History
BOV was formed in 1974 following an agreement between the Government of Malta and the Malta Development Corporation. In 1992, BOV became the first public company to be listed on the Malta Stock Exchange at which time 51.2% of BOV’s equity was held by the Government of Malta, 14.56% was held by Banco di Sicilia S.p.A. and the remaining 34.23% was in the hands of the general public. In 1995, the Government offered 12,000,000 shares to the public, thereby reducing its shareholding in BOV to 25.23%. In June 2006, Capitalia S.p.A. took over the 14.56% stake in BOV from Banco di Sicilia S.p.A. On the 1st October 2007, Capitalia S.p.A. was merged with UniCredito Italiano S.p.A. by way of incorporation. Presently, UniCredit S.p.A. is the other major shareholder with 14.45% stake in BOV.

The Bank's financial services are offered through a network of 44 branches and agencies in Malta and Gozo, and through a number of subsidiaries. It has also developed a worldwide network of correspondent banks and has opened representative offices in Australia, Belgium, Italy, and Libya. Through these networks, the Bank has built the necessary backbone to service its customers in international banking and trade transactions.

Principal activities
The Bank of Valletta Group comprises Bank of Valletta p.l.c. (“the Bank”), BOV Asset Management Limited, BOV Fund Services Limited and BOV Investments Limited. The Group also has an associated company, Middlesea Insurance p.l.c., and a jointly controlled entity, MSV Life plc.

The Parent Company
Bank of Valletta p.l.c. is licensed to carry out the business of banking and investment services in terms of the Banking Act (Cap. 371) and the Investment Services Act (Cap. 370). The Bank is a tied insurance intermediary of MSV Life Assurance Company Limited under the Insurance Intermediaries Act (Cap. 487). It offers the entire range of retail banking services as well as the sale of financial products such as collective investment schemes. The Bank also offers investment banking services, including underwriting, management of IPOs, custodianship and trustee services.

The Subsidiaries
Bank of Valletta is the sole shareholder of BOV Asset Management Limited. BOV Asset Management Limited which is licensed by the MFSA to operate as a UCITS Manager offers a range of investment funds spread across all major asset classes and also provides fund management services to collective investment schemes. BOV Asset Management Limited holds a Category 2 Investment Services Licence issued by the Malta Financial Services Authority and currently manages in excess of €800 million in funds under management.

BOV Fund Services Limited, is a fully owned subsidiary of Bank of Valletta plc and provides a comprehensive range of fund administration services to both domestic and international fund management organisations.

BOV Investments Limited acts as an investment holding company.

The Jointly Controlled Entity and Associate MSV Life p.l.c. is a joint venture between MSV Life p.l.c. and the Bank. It operates as a life assurance company licensed under the Insurance Business Act (Cap. 403). MSV Life p.l.c. is engaged in the business of insurance including group life assurance and of reinsurance.
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Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking and investment services in terms of the Banking Act (Cap. 371 of the Laws of Malta) and the Investment Services Act (Cap.370. of the Laws of Malta).