MBR ISSUE 25 - low res all

Malta Business Review
banking news
Al Faisal International for Investment acquires
78.46% holding in Banif Bank (Malta) plc
Plans to support the Bank’s growth and diversification
Al Faisal International for Investment
(“AFII”), the Financial Investment Company
of Al Faisal Holding Company, one of
Qatar’s largest private diversified industry
groups, announces that it has acquired a
78.46% shareholding in Banif Bank (Malta)
plc, a key player in the Maltese financial
services industry.
Banif Bank (Malta) has been operating
since 2008 and currently provides a full
range of commercial banking services to its
approximately 30,000 customers through a
network of twelve branches and its three
corporate and business banking units.
AFII has completed the acquisition of
the 78.46% stake from Oitante, S.A.,
following receipt of regulatory approval
by the European Central Bank and the
Malta Financial Services Authority. The
remaining 21.52% of Banif Bank (Malta)’s
shares are held equally by four Maltese
shareholders. AFII will appoint three
Non-Executive Directors to the Bank’s
eleven person Board.
AFII and Al Faisal Holding have a strong,
global track record of long term investment
across a range of sectors, adding value and
allowing businesses to develop and fulfil
their potential. In line with this approach,
AFII will be providing Banif Bank (Malta)
with additional capital resources to further
strengthen the Bank’s capitalisation and
to support its focused diversification and
expansion plans. These plans include
enhancing the Bank’s existing range of
services for retail and corporate customers
and the development of new private
banking and investment banking services.
H.E. Sheikh Faisal Bin Qassim Al
Thani, Chairman of Al Faisal Holding,
commented:
“Banif Bank Malta has quickly established
itself as an increasingly important part of
Malta’s financial services landscape and
it is a bank in which Al Faisal is proud to
have become the majority shareholder.
Across the globe, Al Faisal’s strategy is
to establish market-leading standards
of operation and service in every region
and sector in which we operate and Banif
Bank Malta will be no exception.
“Banif Bank Malta is a well-resourced,
well-managed bank with exciting growth
potential and a good platform upon which
to build. The Bank shares our values
of excellence in service and corporate
governance and has worked hard to
develop strong retail and corporate
customer relationships - for example
through its high levels of customer service
and care, expanding ATM network and
robust digital banking facilities.
“This is a significant move for us; Banif Bank
Malta will be Al Faisal’s first financial services
investment in Europe and we expect it to
be the first of more investments in Malta
across a number of different sectors. I can
assure all the Bank’s stakeholders that as
experienced, long term investors in high
quality businesses, we will ensure that its
management and staff have the necessary
capital and resources to gradually expand
the business and to provide new and
existing customers with an enhanced and
diverse range of market-leading financial
services. We are confident that with Al
Faisal as its majority shareholder, Banif
Bank Malta will move into a new phase of
growth and development.”
Joaquim Francisco Da Silva Pinto, Chief
Executive Officer of Banif Bank (Malta),
said:
“Banif Bank Malta welcomes Al Faisal
International for Investment as our majority
shareholder. While in the short term it will
be business as usual for our customers as
we consolidate and expedite our current
growth strategy, with the backing of such a
major, global investor we look forward to
leveraging new resources and expertise
to further develop and enhance the
Bank’s services and relationships with all
our stakeholders.” MBR
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