BOV inaugurates new premises in Gzira

On Thursday, 27 April, Prime Minister Joseph Muscat inaugurated the new Bank of Valletta premises at 218-220, Triq ix-Xatt, Gzira. The new building houses the BOV branch and Investment Centre which service the local community, as well as the bank’s Ethics and Employee Development function and Training Centre, which have been relocated from Valletta.

Present for the inauguration were BOV chairman Deo Scerri, BOV chief Executive officer Mario Mallia, Minister for Finance Edward Scicluna and Minister for Competitiveness and Digital, Maritime and Services Economy Dr Manuel Mallia. The bank’s directors and representatives from the bank’s Management Board, along with distinguished guests and BOV employees were also present.

The Prime Minister recognised that BOV is one of the main pillars of the financial services sectors in Malta. "This investment, which BOV is inaugurating on the very same day that it announced its interim profits, is important. Government is committed to continue strengthening the local economy and concurrently ensure its stability. Today, BOV is the most active player in this sector, and as such, it has a critical role to play."

Dr Muscat referred to the bank's long history which is intertwined with the local economy. He concluded by saying that: "It is important that BOV is well-prepared to take on the challenges ahead and continue being an active participant and enabler of the economy's growth."

During a brief address, the bank’s chairman said: “Today, we celebrate the finalisation of a major project that commenced in September 2013. We have redeveloped these premises which are bringing together various customer facing activities, and will see 40 employees deployed here.”

The bank’s investment in this project amounted to €1.9m. As Mr Scerri explained, the business community in this area is growing fast, and this investment reflects the bank’s commitment to effectively be close to its customers. The bank’s retail network presently includes 42 branches and a fleet of 93 ATMs around Malta and Gozo.

“Along with the Branch and the Investment Centre, this building is going to house the bank’s Ethics and Employee Development function which was set up in 2016. Although still in its infancy stage, this unit has a critical role to play, primarily by reinforcing the intraemployee culture across the organisation, thereby strengthening the bank’s governance structure,” continued Mr Scerri.

The bank’s Training Centre, which has been operating from Valletta for the past two decades will also be relocating to Gzira. This was the first centre of its kind in Malta. Last year alone, more than 2,800 BOV employees attended at least one course organised by this Centre.

“The move of these two units to the new premises is a direct investment in our people, and an indirect one in our customers,” said Mr Mallia. “Both units are important functions for the bank to implement its strategy and remain the leading financial services provider in Malta. This move will translate in better equipped facilities for our people’s training and a clear illustration of our belief that our people are our lifeblood.”

Both the bank’s chairman and CEO expressed their gratitude towards the employees who were directly involved in bringing this project to fruition. They also thanked the customers for their understanding and cooperation throughout the relocation period.