Banif Bank achieves profitability in the last quarter of 2011

January 26, 2012
June 20, 2023
Banif Bank achieves profitability in the last quarter of 2011

“The year 2011 has been a very significant year for Banif Bank (Malta) plc because since the last quarter, it has been returning profits!” announced Mr Joaquim F Silva Pinto, CEO & Director of Banif Bank (Malta) plc at the start of his presentation during the Bank’s 4th Annual Managers’ Meeting held recently.  “So, the financial year that has just come to an end will be remembered as yet another year when one more important target was achieved!”

During the meeting, all the Bank’s management critically and objectively evaluated and discussed the positive results achieved, the encouraging growth rate registered, as well as plans for the coming years.

The evening’s proceedings were opened by Banif’s Chairman, Mr Joseph Sammut who, with a great sense of pride, recalled the fact that Banif Bank had commenced operations in January 2008 and was therefore on the threshold of its fifth year of operations in Malta. While marking this achievement, Mr Sammut remarked, “We need to  closely monitor the progress achieved in reaching the set goals and what adjustments are required to our strategy, especially in the light of  the prevailing  economic and social factors, which affect the environment in which we operate,” he remarked.

The keynote address was delivered by Mr Ronald Attard, Country Managing Partner and Head of Transaction Advisory Services (TAS) at Ernst & Young Malta. Mr Attard presented the latest results of the quarterly Ernst & Young forecast for the Eurozone area, the individual country forecast for Malta, as well as an outlook for the financial services sector in the Eurozone.

This was followed by a presentation by Mr Silva Pinto who outlined the plans and strategies for the coming three years that would guide Banif Bank in consolidating itself as the Alternative Maltese Bank, offering a banking experience based on high quality and innovative services.