From offering basic banking services to services relating to the fund and investment services business in Malta, Sparkasse Bank Malta has evolved dramatically under the leadership of Paul Mifsud. Sparkasse Bank Malta’s mission is to become the bank of choice for investment services businesses in Europe.
As CEO, Mifsud set out to make the bank a semi-investment services bank, with a strong banking arm and an equally strong investment services arm. Investing managers, businesses, and fund managers alike now seek out the bank’s investment services. Sparkasse Bank Malta continues to spend extensively in infrastructure, technology, and resources in order to increase market share in investment services. In addition, the bank recently created a new website and invested in new IT tools to assist in automating procedures and improving efficiency.
Sparkasse Bank is already a key participant in the Malta fund custody market. “We were one of the first banks to actively push depository and custody services that assist support the fund business in Malta,” says Paul Mifsud. Despite its successes, Sparkasse Bank is committed to both growth and long-term client connections. “We are one of the few banks that still values long-term client relationships. “We promote and nurture service-oriented relationship banking,” adds Mifsud.
Sparkasse Bank Malta provides a wide range of investment advice services, as well as non-advisory, execution, settlement, and custody services. Sparkasse Bank Malta’s counselling role involves hands-on involvement in the ideation and creation of investment portfolios. Inexperienced investors seek the counsel of professional investment advisers, and the bank is serving this underrepresented niche. A customized investment strategy is carefully proposed based on the customer’s risk choices, investment horizon, anticipated return, and financial objectives. Customers can also choose to keep their own counsel. Customers who choose to pick their own investments can still use Sparkasse Bank Malta’s resources to buy, sell, and manage their investments. The bank offers a range of investment assets to choose from, including government bonds, corporate investment-grade bonds, high-yield bonds, strategic bond funds, regional equity funds, and stocks. Customers that trade using the bank’s Trade Desk platform or other brokerage companies can also get settlement services. Customers may use the bank’s settlement services in 80 countries, with a staff of professionals available to assist.
Sparkasse Bank Opens in Ireland
The Central Bank of Ireland has approved Sparkasse Bank Malta Ltd to function as depositary for Irish authorized investment funds. The bank has been licensed to provide custody and depositary services in Ireland since 2008. Sparkasse Bank Malta’s Dublin debut is a big milestone. Despite its aggressive development plans, Sparkasse Bank will maintain tight client acceptance rules and will only offer its services to those who meet its criteria.
About Sparkasse Malta
Sparkasse Bank Malta plc was founded in 2000 and has been serving its increasing customer base with private banking, depository, and custody services.
MFA licences the bank as a credit institution, and as an investment business and depository under the Investment Services Act. Sparkasse Bank Malta provides banking and investing services to corporations, individuals, funds, and asset managers, and currently has around $8.3 billion in assets. Paul Mifsud became the bank’s CEO in 2007 and has been in charge ever since.
The bank offers advice and non-advised investment services, execution, settlement, and custody. Foreign institutional investors, professional investor funds, Fund of Funds managers, financial institutions, domestic mutual funds, corporate investors, high net worth investors and brokers can use Sparkasse’s Custody Division. Sparkasse’s objective is to become a well-known European financial organization providing banking, investing, depositary, and fund custody services.