Lombard Bank

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For other uses, see Lombard.


Lombard Bank (Malta) Plc
Type Public (Malta Stock Exchange)
Founded 1969
Headquarters Valletta, Malta
Website www.lombardmalta.com

Lombard Bank Malta Plc is one of Malta's major banks, together with Bank of Valletta, HSBC Bank Malta and APS Bank.

The bank dates back to 1955 when Lombard North Central (also known as Lombard Direct) of the United Kingdom started taking deposits in Malta through a number of agents. This activity was formalised in 1969 when Lombard Bank (Malta) Limited was registered as a wholly-owned subsidiary of Lombard North Central plc - a member of the Natwest Bank Group.

In 1975, the Maltese Government purchased 25% of the Bank's ordinary shares. A further 35% were purchased by the Government in 1981, thus raising its stake in the bank to 60%. In 1988 NatWest, unable to find any other buyer, sold its remaining stake in the bank to the Government. In April 1990 the Bank became a Public Limited Company and offered equity to the public. The issue was five times oversubscribed and the Government shareholding was subsequently totally divested. In 1994 Lombard Bank listed its shares on the Malta Stock Exchange.

Today the largest shareholding (around 60%) is held by Marfin Popular Bank of Cyprus. Over 1,200 shareholders, including investment funds hold the remaining stocks. The Bank has a 60% stake in Maltapost plc., the Maltese postal service.


Contents

[edit] Services Offered by the Bank

[edit] Personal Banking

  • Cards, including MasterCard Classic and Gold credit cards, American Express Classic and Gold cards and Lombard CashPoint debit card
  • Current Account
  • Direct Debits
  • Home Loans
  • Personal Loan
  • Personal Overdraft
  • Safe Deposit Lockers
  • Savings Accounts
  • Standing Orders
  • Term Deposits


[edit] Business Banking

  • Business Loans
  • Business Overdrafts
  • Cards
  • Current Accounts
  • Documentary Collections
  • Documentary Credits
  • Guarantees
  • Payment Services
  • Savings Accounts
  • Standing Orders
  • Term Deposits


[edit] International Banking

  • Foreign Currency Accounts
  • Foreign Currency Loans
  • Foreign Exchange
  • Making International Payments
  • Receiving International Payments
  • Investments


[edit] Fiduciary Deposits

  • Premium Saver Accounts
  • Stockbroking Services
  • Xtra Accounts


[edit] Branches

The Bank operates a network of 6 branches in Malta and Gozo with its Head Office at 67 Republic Street, Valletta. These branches are located in:

A 24-Hour Lombard Cashpoint ATM is located in every branch except the Qormi one. Furthermore, the CashPoint ATM debit card can also be used on all HSBC Quickcash ATMs in Malta and Gozo.


[edit] Chronology

  • 1958: National Provincial Bank Ltd. (now National Westminster Bank Plc) acquires North Central Finance Ltd. (now Lombard North Central Plc).
  • 1969: Lombard North Central establishes Lombard Bank (Malta) Ltd. (now Lombard Bank Malta Plc).
  • 1975: The Maltese government purchases 25% of Lombard Bank Malta.
  • 1981: The Maltese government purchases 35% of Lombard Bank Malta.
  • 1988: NatWest, unable to find a buyer, sells its remaining shares to the government.
  • 1990: Lombard Bank Malta issues new shares and the government sells some of its shares.
  • 1994: Lombard Bank Malta lists on the Malta stock exchange. The government sells 21% of the shares (Lombard North Central’s remaining stake) to Malaysian entrepreneur Robert Tan Hua Choon.
  • 1998: CCF Holdings (Suisse) acquires Tan’s 21%.
  • 2000: HSBC Holdings acquires Credit Commercial de France and with it the stake in Lombard Malta.
  • 2002: HSBC sells its shares in Lombard Bank Malta to Swiss-based Banca Unione di Credito, which now owns 26%.
  • 2006: Lombard Bank Malta acquired Transend Worldwide's 35 per cent shareholding in Maltapost Plc. Transend Worldwide, a New Zealand company, was instrumental in restructuring Maltapost over the past four years.
  • 2006: Banca della Svizzera Italiana acquired Banca Unione di Credito.

[edit] References