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Malta with highest increase in financial institutions in 2012
European Central Bank says Malta with highest reported increase in monetary financial institutions within eurozone in 2012.
21 January 2013, 12:00am
Karl Stagno-Navarra
Karl Stagno-Navarra
1 min read
Gains were limited to Malta (+3.0%) and Portugal (+0.6%)
Malta has turned out to be the highest within the eurozone to attract monetary financial institutions throughout 2012, keeping the boat afloat as the area registered an overall decline of 6.3% over the previous year.
In a statement this morning, the ECB said that the number of monetary financial institutions in
the Eurozone fell by 474 or 6.3% to 7,059 over the course of 2012.
Declines were especially pronounced in Slovakia (-29.5%), Luxembourg (-22.4%), France (-9.2%), Spain (-8.2%) and Finland (-8.1%). Gains were limited to Malta (+3.0%) and Portugal (+0.6%).
In absolute terms, Luxembourg contributed the most to the decline, with 124 fewer MFIs between January 2012 and January 2013, followed by France with 105 fewer institutions, and Italy, with 55 less.
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Could it be that what the others are discarding, we are sweeping up? Or could it be a case of very lucrative tax advantages, which admittedly I doubt? Or could it be we are perhaps considered "easier" than other jurisdictions? Or could it simply be we are a top class quality jurisdiction that fiscal entities are dying to operate from?
