New Banif Bank branch in Paola

Banif Bank (Malta) plc has opened its 12th branch, located in the busy trade area of Paola.

The new retail outlet forms part of a network optimisation programme that will enable the bank to reach out to more clients in the area, while attracting regional traffic and commercial activity.

Offering better facilities and points of sale to customers is at the core of the bank’s operations, and wider coverage will contribute further to the high standards of care the bank already offers.

The Paola retail outlet was officially opened by Finance Minister Edward Scicluna, in the presence of the bank’s chairman Michael Frendo, CEO Joaquim F. Silva Pinto, directors, department heads, the branch team and distinguished guests.

The new branch in Pjazza de Paule will be led by experienced banker and area manager Martin Borg and offers the local community the whole range of products, from savings to loans and cash management solutions. The branch team has already been busy getting to know the local people so that personalised advice can be given based on individual requirements. The bank is also strengthening its competitor potential, growing quickly into a meaningful size.

“The new government looks to the Maltese banking sector as a sound and solid sector which has managed to weather the financial storm that swept across the Eurozone. This was thanks to Malta’s regulatory mechanism, the ethics of our operators and the sector’s professional human resources,” said Prof. Scicluna.

“The government is committed to continuing to strengthen the banking sector and introducing such legislative mechanisms as help the sector expand, while providing peace of mind to depositors.”

He went on to add that the Government is looking forward to working closely with local banks on various initiatives, such as the upcoming Third Pillar Pension Scheme, which will be unveiled in the coming weeks.

“The opening of our new branches will help us improve our performance,” said Mr Silva Pinto.

“With a better understanding of our customers on the ground, we can optimise our product portfolio and provide individuals, families, shops and businesses a customised range of services” he said. “Paola is an important trade area and a great location for the bank to pursue its market penetration plans.”