‘Malta’s financial services sector stable’ – PM

"The financial services sector in Malta is a stable one," said Prime Minister Joseph Muscat today, during a visit to Banif Bank in Gzira.

This was said in light of the report released recently by credit ratings agency Standard & Poor's, which confirmed Malta's credit ratings and stable outlook.

Muscat said this clearly indicated Malta was performing well and also praised Banif as an "essential part of the Maltese financial services landscape".

He said the government believed the future of local banking lies in new, innovative products, and urged Banif to continue to undertake these ventures, adding that while the government was pleased with Malta's "good, clean bill of health", he was committed to ensuring the outlook remained good.

Banif has been operating in Malta for five years and serves around 32,000 clients.