MeDirect Bank Malta

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MeDirect Bank (Malta) plc
Formerly
Mediterranean Bank
Public Limited Company
IndustryBanking
Financial services
Founded2004 (2004)
HeadquartersThe Centre, Tigné Point, ,
Number of locations
2 branches
Area served
Malta
Key people
Michael Adrian Bussey (Chairman)
Arnaud Denis (Chief Executive Officer)
ProductsRetail Banking
Commercial banking
Investment Services
Wealth Management
BrandsMeDirect
Total assets€2,987 million (as of September 30, 2019)[1]
Number of employees
280 (2019)
ParentMDB Group Limited
SubsidiariesMeDirect SA/NV
Websitewww.medirect.com.mt

MeDirect Bank (Malta) plc (previously known as Mediterranean Bank) is a Maltese bank and financial services company with headquarters in Sliema. The Bank's main focus is on the savings, investments and wealth management sector - both for retail and corporate clients.[2] MeDirect has branches across Malta and Gozo.[3]

MeDirect Bank (Malta) plc has a subsidiary bank in Belgium where it is licensed and operates a direct bank known as MeDirect SA/NV that provides online investment opportunities and other saving products to retail investors.

History[edit]

MeDirect Bank (Malta) plc started off as Mediterranean Bank in June 2004, becoming a fully licensed Maltese credit institution a year later.[4] When AnaCap Financial Partners LLP, a UK private equity firm, acquired and recapitalised Mediterranean Bank in July 2009,[5] the Bank was operating solely from its headquarters in Valletta. The local team was soon joined by analysts based at the Bank’s new offices in central London and embarked on implementing a strategy that would see the Bank growing rapidly, both in Malta and abroad.

In 2010, MeDirect acquired a majority stake in Charts,[6] a Maltese stockbroking, wealth management and corporate advisory firm, completing its takeover after five years, and then fully incorporating the Charts trading license in 2018. This enabled MeDirect to offer superior investment advisory services, as well as corporate broking services to local and international companies.

The Bank continued to steadily build a strong reputation as Malta’s leading savings, investments and wealth management bank, with branches in Sliema and Gozo, whilst later acquiring Volksbank Malta Limited, to enhance and broaden its corporate lending portfolio to Maltese clients.[7]

MeDirect has always been passionate about supporting the Maltese community, proudly assisting a number of community projects over the years. Amongst these projects, the Bank has assisted numerous entities like theatres, local sports clubs, cultural sites and charitable institutions.

Whilst continuing to grow locally, MeDirect also set its sights on expanding abroad and subsequently launched its Belgian business as an online bank offering savings, investments and wealth management services in 2013. MeDirect SA/NV became a fully licenced Belgian bank in 2015.[8]

MeDirect is currently Malta’s third largest bank,[9] directly supervised by the European Central Bank and by the Malta Financial Services Authority. Its Head Office is located at The Centre – Tigne Point, Sliema.

Community[edit]

MeDirect has always been passionate about supporting the Maltese community, proudly assisting a number of community projects over the years. Amongst these projects, the Bank has assisted numerous entities like theatres, local sports clubs, cultural sites and charitable institutions.

References[edit]

  1. ^ "MeDirect". Financial Highlights. Retrieved 26 June 2019.
  2. ^ "MeDirect". Financemalta.org. Retrieved 31 October 2018.
  3. ^ "Mediterranean Bank opens its new Gozo branch in Victoria". Gozo News.Com. Retrieved 2017-11-27.
  4. ^ "Five years in Malta – the Medbank experience - The Malta Independent". www.independent.com.mt. Retrieved 2019-06-26.
  5. ^ "MEDIRECT BANK (MALTA) PLC (Malta) - Bank Profile, formerly Mediterranean Bank plc - Bank Profile". thebanks.eu. Retrieved 2019-06-26.
  6. ^ "Mediterranean Bank plc acquires majority shareholding in stockbroking firm". Times of Malta. Retrieved 2019-06-26.
  7. ^ "Mediterranean Bank completes €35 million Volksbank Malta acquisition". MaltaToday.com.mt. Retrieved 2019-06-26.
  8. ^ "MeDirect Bank SA/NV: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 2019-06-26.
  9. ^ "Mediterranean Bank Group is now Malta's third largest bank with equity of €170 million". Times of Malta. Retrieved 2019-06-26.