New BOV Foundation ‘ensures that society reaps benefits of bank’s success,’ says CEO Kenneth Farrugia

Bank of Valletta has launched a new foundation, the Bank of Valletta (BOV) Foundation, a non-profit making organisation aimed primarily at benefiting the general public and Maltese society at large.

“Five decades of banking services have enabled our bank to forge an important and close-knit affiliation with the Maltese economy, servicing personal and business clients in the process and contributing from a social responsibility perspective to the wider needs of the community,” said CEO Kenneth Farrugia during the launch.

“The setting up of this foundation is a bold statement of intent by the bank. We are building on our successes, strengthening the Bank on multiple fronts, and at the same time ensuring that society reaps the benefit of this success.”

The new foundation was launched during a press conference presided over by BOV Chairman Dr Cordina and Mr Farrugia, who signed the deed.

Present were also Ernest Agius, Chief Operations Officer at BOV responsible for the Bank’s Corporate Social Responsibility (CSR) program, as well as members of the Foundation’s Board of Administrators.

Dr Cordina said, “Bank of Valletta has always played a critical role in shaping the Maltese economy, more so today as a systemically important bank that services a large percentage of the population.

“With deep roots in many aspects of Maltese society, the communities that we operate in remain important stakeholders for us. The BOV Foundation is another step in the right direction in our efforts to be leaders and innovators in the financial sector, and a catalyst for positive change.”

The BOV Foundation is the next step in BOV’s 50-year history of community engagement and corporate philanthropy. Its purpose is to implement the bank’s CSR Strategy based on five pillars: supporting vulnerable members of Maltese society, fostering quality education, protecting Maltese heritage, promoting ethical and responsible conduct and speaking up for the environment.

The administration and management of the Bank of Valletta (BOV) Foundation is vested in the foundation’s Board of Administrators. The Board will see to the day-to-day affairs of the foundation, managing its assets and ensuring that its objectives are reached.

The Board of Administrators are Martin Galea (Chairperson), Mr Agius, Godfrey Swain, Antoinette Caruana and Anita Mangion.

Mr Agius stated that Bank of Valletta’s community reach-out programme “has always offered tangible support to various aspects of community life. Through this Foundation we will continue to support people in need, ensuring an adequate level of health and quality of life. We will also be approaching education holistically to boost financial literacy, preserving and promoting the treasured work in artistic, creative and architectural sectors, promoting ethical and responsible conduct together with business and sports alliances, and becoming sustainability heroes by tailoring products and initiatives aimed at safeguarding the environment.”

Speaking about his appointment, Mr Galea said, “I am proud to have been appointed as Chairperson of the BOV Foundation. It is an exciting time to be spearheading this initiative, and I look forward to seeing first-hand the positive impact that the foundation will have on Maltese society.”