Which is the best bank in Malta? Referring to the latest survey done in 2008 by Global Finance, Bank of Valletta has won this prestige title. BOV was also included amongst a short list for the best emerging banks in Europe too.

The two most popular banks in Malta are BOV and HSBC, the world’s local bank!

HSBC’s international network consists of over 9,000 offices in more then 80 countries across the world. Other well known banks also include APS and Lombard Bank. All of these institutions have an online presence and do offer internet banking to their clients as well.

If you’re looking for the best Malta bank, it will ultimately depend on your particular needs. Some banks might offer better conditions to business entities or to students for example. Ideally before deciding to apply for a bank account, you should personally pay them a visit and discuss your requirements. Although the banking terms are usually very similar, sometimes you will find that one bank is offering better interest rates on current or savings account or repayment of bank loans for example.

You won’t find a business bank or a student bank, dedicated just to one section of the market. The local banks offer packages for everyone. It’s up to us to compare and decide which is the best bank for us. Just to mention few examples, only APS Bank gives us the opportunity to open a current account (use a cheque book) and earn interest on it too. Using Bank of Valletta one can hold a VISA debit card, whilst HSBC offers only a VISA credit card. Terms for house loans vary from bank to another as well.

The list of banks in Malta is increasing too. More and more foreign banks are opening branches in Malta, such as Banif Bank (founded in Portugal), Erste Bank (Austria), CommBank Europe (Australia) and many others. Competition in this industry is healthy and will ultimately benefit all who bank in Malta.

I encourage you to leave your comments or reviews about any bank you use or transacted with hereunder, so that we choose our readers’ best Malta bank too!