Sparkasse Bank Malta Recap
A private bank, Sparkasse Bank Malta plc, was established in October 2000. The company provides a range of services, including private banking, investment banking, custody, depository services, and fund administration. According to its website, it is the 8th largest Bank in Malta in terms of total assets and is expected to have a market share of 2.82% by 2020. At present, the company employs 59 people.
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A bank’s service portfolio is built around the investment portfolio that the client has. Alternatively, a bank can offer advice on investment strategies and portfolio management. Unlike a bank, the Sparkasse Bank Malta custodial services are geared toward professional and less experienced investors. The Bank also offers non-advised investment management and securities services to its customers. If you don’t need such advice, you can benefit from the Bank’s resources in a non-advised capacity.
In addition to depository services, Sparkasse also offers investment management, fund custody, and depositary services. As a licensed financial institution in Malta, Sparkasse has an office in Dublin, Ireland, providing depositary services for Irish-authorised investment funds. Its banking and investment services are geared toward private individuals, asset managers, and regulated investment entities. In addition to providing financial services, the Bank also has a dedicated team of professionals that provide professional oversight and personal support to clients.
In 2009, the company announced that it had acquired an Irish license to conduct fund services. This announcement was a step towards further expansion. Its Irish license, which the Central Bank of Ireland issues, makes the Bank a recognized European financial institution. In addition, the new Malta branch will follow strict customer acceptance guidelines and is also in the EU. This guidance makes the Bank a preferred location for funds based in Ireland.
Besides offering a range of financial services, Sparkasse Bank Malta is also home to several the United Kingdom and Australia branches. In addition to its local offices, the Bank operates from its headquarters in Malta. There are 26 domestic banks and three foreign banks in Malta. These institutions are regulated by the Central Authority of the island and are subject to strict compliance standards.
In Malta, the regulator of the financial sector is the MFSA. Its management committee has representations from all departments, including the finance, audit, and legal. It also consists of representatives from the regulatory authority and the financial services commission of the European Union.