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ARTICLE · 11 FEBRUARY 2016

Persisting Growth In Financial Services During 2015 Despite Challenging Conditions

CSB Group
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2015 presented a challenging economic environment around the world, yet the Maltese financial services sector remained resilient and managed to grow.

MaltaFinance and Banking
CSB Group
CSB Group
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2015 presented a challenging economic environment around the world, yet the Maltese financial services sector remained resilient and managed to grow. New business was generated in the banking sector and related services, investment services, trust services, while there was a modest increase in the number of newly registered companies in other sectors.

Within banking, one company was upgraded to credit institution from financial institution, shifting the total number of authorised credit institutions in Malta to 2018 at the end of 2015. In addition, 9 companies were licensed as financial institutions beneath the Financial Institutions Act. Two of these were licensed to provide payment services, one institution was licensed to issue electronic money, while three were licensed to provide both payment services and the issuance of electronic money.

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