Al Faisal International for Investment acquires 78.46% holding in Banif

October 5, 2016
June 20, 2023
Al Faisal International for Investment acquires 78.46% holding in Banif

Malta [5 October] 2016 - Al Faisal International for Investment (“AFII”), the Financial Investment Company of Al Faisal Holding Company, one of Qatar’s largest private diversified industry groups, announces that it has acquired a 78.46% shareholding in Banif Bank (Malta) p.l.c, a key player in the Maltese financial services industry.

Banif Bank (Malta) has been operating since 2008 and currently provides a full range of commercial banking services to its approximately 30,000 customers through a network of twelve branches and its three corporate and business banking units.

AFII has completed the acquisition of the 78.46% stake from Oitante, S.A., following receipt of regulatory approval by the European Central Bank and the Malta Financial Services Authority. The remaining 21.54% of Banif Bank (Malta)’s shares are held equally by four Maltese shareholders. AFII will appoint three Non-Executive Directors to the Bank’s 11 person Board.

AFII and Al Faisal Holding have a strong, global track record of long term investment across a range of sectors, adding value and allowing businesses to develop and fulfil their potential. In line with this approach, AFII will be providing Banif Bank (Malta) with additional capital resources to further strengthen the Bank’s capitalisation and to support its focused diversification and expansion plans. These plans include enhancing the Bank’s existing range of services for retail and corporate customers and the development of new private banking and investment banking services.

H.E. Sheikh Faisal Bin Qassim Al Thani, Chairman of Al Faisal Holding, commented:

“Banif Bank Malta has quickly established itself as an increasingly important part of Malta’s financial services landscape and it is a bank in which Al Faisal is proud to have become the majority shareholder. Across the globe, Al Faisal’s strategy is to establish market-leading standards of operation and service in every region and sector in which we operate and Banif Bank Malta will be no exception.

“Banif Bank Malta is a well-resourced, well-managed bank with exciting growth potential and a good platform upon which to build. The Bank shares our values of excellence in service and corporate governance and has worked hard to develop strong retail and corporate customer relationships - for example through its high levels of customer service and care, expanding ATM network and robust digital banking facilities.

“This is a significant move for us; Banif Bank Malta will be Al Faisal’s first financial services investment in Europe and we expect it to be the first of more investments in Malta across a number of different sectors. I can assure all the Bank’s stakeholders that as experienced, long term investors in high quality businesses, we will ensure that its management and staff have the necessary capital and resources to gradually expand the business and to provide new and existing customers with an enhanced and diverse range of market-leading financial services. We are confident that with Al Faisal as its majority shareholder, Banif Bank Malta will move into a new phase of growth and development.”

Joaquim Francisco Da Silva Pinto, Chief Executive Officer of Banif Bank (Malta), said:

"Banif Bank Malta welcomes Al Faisal International for Investment as our majority shareholder. While in the short term it will be business as usual for our customers as we consolidate and expedite our current growth strategy, with the backing of such a major, global investor we look forward to leveraging new resources and expertise to further develop and enhance the Bank’s services and relationships with all our stakeholders.”  

About Al Faisal International for Investments

Al Faisal International for Investments (“AFII”) was founded in 2009 and is the Financial Investment Division of Al Faisal Holding Company LLC. AFII manages assets in the Middle East, Europe and the United States and holds approximately US$300 million in strategic investments principally in the financial services sector, including its equity holding in Al Khaliji Bank, Qatar’s pioneer “next generation bank”. AFII also provides transaction advisory, research and fund management services.

About Banif Bank (Malta)

Banif Bank (Malta) p.l.c has been operating in Malta since 2008 and has become a significant player in the domestic financial market. It provides a full range of commercial banking services to both business and private customers supported by a network of twelve branches, spread across the Maltese Islands, and its three Corporate & Business Banking Units. At the end of 2015, Banif Bank (Malta) had total assets of EUR516.9 million.

Banif Bank (Malta) has become a key player in the local market, as witnessed by the fact that it was named the Best Banking Group – Malta by World Finance in 2010, 2011 and 2013 in recognition of the Bank’s financial performance, sound corporate governance and provision of innovative client solutions.

About Al Faisal Holding

Incorporated in 1964, Al Faisal Holding Company LLC (“Al Faisal”) is one of Qatar’s largest privately held diversified industry groups, owned by His Excellency Sheikh Faisal Bin Qassim Al Thani. Al Faisal operates through its subsidiaries and associated companies in a variety of sectors, including real estate, construction, hospitality, trading, transportation, entertainment, education, services and information technology. Al Faisal’s investments include its interest in Aamal Company Q.S.C, one of Qatar’s largest, most diversified and fastest growing companies, in addition to investments in a range of sectors across Europe, the MENA region and the United States.