The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.19 - Other monetary intermediation
350 jobs Number of planned job creations
Announcement Date
10 June 2007
Employment effect (start)
21 January 2008
Foreseen end date
21 January 2013
Description
The Banco Internacional do Funchal, one of Portugal's main banking operators, set up a new bank in Malta called Banif Bank Malta. The bank intends to open another 22 branches in Malta and to capture around 10% of the local market share in the coming four to five years. This should create around 350 jobs. When it opened its first branch in St Julians on 21 January 2008, it was employing about 40 persons. The bank did not state where in the country it plans to open its other branches. It said that in order to reach its goals, “it will offer fully fledged financial services through a differentiation strategy based upon high quality of service, with an innovative product portfolio and advanced banking technology oriented towards efficiency gains”.
Sources
22 January 2008: Malta independent
11 June 2007: Kullhadd
Citation
Eurofound (2007), Banif Bank Malta, Business expansion in Malta, factsheet number 66262, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66262.
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