Following nine months of renovation works, the Bank of Valletta (BOV) Branch in Republic Street Valletta has reopened to the public.

To mark the completion of this project, an inauguration ceremony was held, presided over by the Minister for the Economy, Enterprise and Strategic Projects Silvio Schembri, the Bank’s CEO Kenneth Farrugia and BOV Chairman Gordon Cordina. The project forms part of the Bank’s Branch Renovation Program.

Situated at the corner with St John Street, “the branch has been synonymous with Bank of Valletta, and during the past five decades has been considered as the bank’s flagship branch” BOV said in a press release.

It went on to say that considering the building’s location in an urban conservation area and its cultural and historical value, restoration had to respect the true character of the capital’s architecture, with particular focus on the façade’s original features, masonry and iron-cast that were retained and restored in place.

Of particular interest, it added, is the Coat of Arms of the former National Bank of Malta, sculpted in stone and portraying the George Cross and the Order of St John’s eight-pointed cross, as well as Patron Saints St George and St Paul.

Several other elements from the older building have been reused, the bank added in their statement, including marble, windowpanes, balconies, old vaults and safes. The building also includes a new ATM lobby, which now houses two state-of-the-art ATMs and BOV’s first Bulk Deposit Machine that offers 24-hour deposit services to the business community.

The branch is "fully accessible and certified by the Commission for the Rights of Persons with Disability". Working in tandem on the restoration works and the enhanced customer experience were the Bank’s Chief Operations Officer Ernest Agius and the Chief Personal and Wealth Officer Simon Azzopardi, who ensured seamless customer service while works were in progress.

During the inauguration, Minister Silvio Schembri highlighted the significance of this project for the Maltese economy, stating, "The reopening of the Bank of Valletta’s Republic Street Branch not only revitalises an iconic part of Valletta but also contributes to our broader economic goals. BOV’s investment in modernising its flagship branch reflects the bank’s ongoing commitment to supporting Malta’s economy, particularly through improved financial services and accessibility."

Mr Schembri added that this renovation is a "strong example" of how the financial sector can drive economic growth while upholding the cultural and historical value that makes our capital unique.

"As we continue to foster an environment for business and enterprise, projects like this reinforce the foundation of our economic success", he concluded. 

The Bank’s CEO, Kenneth Farrugia expressed his satisfaction upon the completion of this major project.

“It gives me great pleasure to see continued progress in our Branch Renovation Program, with our Republic Street Branch becoming the seventh retail branch to undergo refurbishment. The time was right to invest in this location, as Valletta has always been synonymous with BOV since its inception in 1974. This location has served thousands of customers over the years, and this investment continues to reinforce our efforts to put the customer at the centre of everything we do.

"This project also reinforces our efforts in keeping true to our ESG objectives, with the newly refurbished branch incorporating several environmentally friendly concepts, promoting sustainability and reduced emissions through the application of natural and renewable materials,” he said.

BOV Chairman Dr Gordon Cordina spoke about the historical and cultural value of the premises in the heart of the capital city: “property value is nowadays becoming an even more important element in an organisation’s balance sheets. With the renovation of our Valletta Branch, not only are we enhancing customer value in terms of the experience that we offer, but we are also strengthening our shareholder value by improving our asset value. It gives us great pride to be giving back to our Capital City a beautifully restored Bank of Valletta Branch, especially in this important 50th anniversary milestone.”