Malta Bankers' Association elect chairman

At the recent Annual General Meeting of the Malta Bankers’ Association, Mr Mark
Watkinson was elected as Chairman of the Board of the Association for the coming
year. The other Board members are Mr Charles Borg, Mr Edward Cachia, Mr Marcel
Cassar, Dr Michael Ellul Sullivan, Mr Mario Gauci, Mr Thomas Haag, Mr Joseph
Said, Mr Henry Schmeltzer and Mr Joaquim Silva Pinto.

The combined balance sheet total of the Association’s member banks as at the
end of 2011 expanded to just over €50 billion, whilst total equity surpassed the €10
billion mark. The number of their full time employees was close to 4,000. The direct
contribution of the banking sector to the local economy remains significant, with
payroll last year amounting to € 123 million, taxation on profit on ordinary activities
reaching €133 million, and dividends paid to resident shareholders amounting to over
€55 million. Loans and advances to customers totalled €18 billion, with amounts owed
to customers standing at €18.3 billion.

Mr Watkinson expressed satisfaction at the continued resilience of the Maltese
banking sector, which is underpinned by strong capital and liquidity ratios. This
has ensured the continued flow of credit to domestic households and businesses in
support of the island’s drive to achieve sustainable economic growth in the prevailing
challenging environment.

Mr Watkinson added: “It is a credit to the Sector that Malta’s banking business was
ranked as the 12th soundest out of 142 countries by the World Economic Forum in its
Global Competitiveness Report for 2011-2012”.