Bank of Valletta

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Bank of Valletta is Malta's oldest bank and one of its largest.

[edit] History

1809 William Higgins establishes the Anglo Maltese Bank.
1812 George Thomas Jackson establishes Banco di Malta. Biagio Tagliaferro, a Genoese merchant, shipowner and ship-chandler establishes B. Tagliaferro and Sons - forerunner of Tagliaffero Bank.
1830 The Scicluna family, also shipowners, establishes Joseph Scicluna et fils.
1926 Joseph Scicluna et fils becomes Sciclunas Bank.
1946 Anglo Maltese Bank and Banco di Malta merge to form the National Bank of Malta.
1949 Sciclunas Bank becomes affiliated to the National Bank to form the National Bank of Malta Group.
1969 B. Tagliaferro and Sons become part of the Group.
1973 National Bank Group faces a run on the bank. The Central Bank refuses to act as a lender of last resort and blocks Barclays and other banks from supporting the Group.
1974 The Maltese Government establishes Bank of Valletta (BOV) to take over the business of the National Bank of Malta. BOV sells 9.6% of its shares to the Maltese public.
1975 BOV sells 20% of its share capital to Banco di Sicilia.
1976 BOV acquires the National Bank Group's assets and liabilities
1987 BOV opens an office in London.
1990 BOV issues 4,900,000 ordinary “B” shares to the general public, which brings the public’s ownership to 28.2%.
1992 BOV becomes the first public company to be listed and its shares quoted on the Malta Stock Exchange.
1993 B0V establishes a representative office in Catania.
1994 B0V establishes a representative office in Toronto.
1995 B0V is privatized after Government sold 12,000,000 shares to the public, thus reducing its stake from 51.2% to 25.2%.
1996 BOV establishes a representative office in Milan.
2000 BOV opens a representative office in Tunisia and another in Libya.