Bank of Valletta Chief Business Banking Officer Albert Frendo has taken up voluntary retirement, and has “relinquished” his position, BOV said in a statement on Tuesday.

It wished him all the best for future endeavours, and thanked him for his “valuable contribution and hard work”.

Mr Frendo, an accountant by profession, was responsible for the stewardship of the Credit Function. His career at BOV spanned over 30 years, where he gained extensive experience in cost management and financial reporting, risk management and credit finance.

For twelve years, he headed BOV’s Risk Function and was later assigned with the management of the bank’s overall Credit Portfolio, responsible for a number of key credit areas including Corporate, SME, Consumer and Trade Finance, Collections and Collateral Management. He was entrusted to launch Risk Sharing Instruments in Malta aimed at SMEs including JEREMIE, CIP, SMEG, SME Initiative (JAIME) and SME Invest.

As Chief Business Banking Officer Mr Frendo was responsible for one of the three key pillars of BOV’s revamped Business Model, along with Retail Banking and Investments.

The banking stalwart holds a degree in Accountancy from University of Malta and a Masters in Business Administration, with specialisation in Management Consulting, from Grenoble Graduate School of Business in France.