MALTA 2013 - A YEAR IN REVIEW
The financial services industry in Malta has continued to grow
throughout 2013 despite the persisting challenges and increasing
competition in this sector. Financial services account for some 12
per cent of Malta's GDP and is worth more than €1 billion
to the Maltese Islands in direct and indirect revenue and
approximately 10,000 people are employed in the sector. In this
review, we look at reflections, analysis and studies carried out
about Malta, its economy and its financial services industry, by
various reputable institutions and credit rating agencies
throughout 2013.
The first months of the year, particularly as a follow up to the
banking crisis in surrounding Mediterranean states, Malta was
subject to strict scrutiny from international institutions and
credit rating agencies. The first to report on Malta, in
April 2013, was credit rating agency Fitch
Ratings. In its report, the agency remarked that the
Maltese banking sector
