Sparkasse Bank Malta has increased its share capital to €30 million leading from a positive set of results in 2018.
The bank announced further investment in its Maltese operations, by an injection of an additional €4 million into its share capital. The additional capital was derived from retained earnings generated by the bank.
Commenting on this development Paul Mifsud, the bank’s CEO stated, ‘’As the bank continues to grow its business locally and internationally via its branch in Ireland, the bank will continue to invest and improve its capital position.”
“Capital will be used in its broadest sense as the bank continues to make significant investment in human resources, IT infrastructure and logistics locally,” Mr Mifsud continued.
“The bank is committed to providing services locally and continues to see its Malta operation as the backbone to its initiatives in Ireland and in Luxembourg in due course.”