‘Our commitment remains steadfast’ – BOV Chairperson Gordon Cordina

At Bank of Valletta’s 51st Annual General Meeting, Chairperson Gordon Cordina highlighted the bank’s strong financial performance for 2024.

Shareholders at the AGM approved several measures: A record gross dividend payout of €0.2238 per share (totalling €130.7 million), a share buyback programme (subject to regulatory approval), and a bonus share issue providing one additional share for every ten held by 26th June 2025.

Dr Cordina emphasised BOV’s leading role in the local financial sector, pointing out that since 2020, the bank has generated over €520 million in value for shareholders, driven by dividend distributions and a strong increase in share value.

“Today we are putting forward a number of initiatives that will continue to add value to our shareholders, who have placed their trust in the bank and who in turn seek adequate returns on their investment,” Dr Cordina said. “Our commitment remains steadfast, as we maintain a proactive approach to optimising our balance sheet, strengthening our financial returns, and ensuring sustainable profitability over the longer term.”

He stressed that BOV’s future growth will be supported by ambitious digitalisation efforts, robust risk and compliance integration, and the maintenance of high capital and liquidity buffers.

The AGM also featured remarks from CEO Kenneth Farrugia, who outlined the bank’s progress in improving customer services, rolling out new digital platforms, and strengthening its focus on sustainability and talent development, as BOV works to transform “from good to great.”

The newly appointed Board of Directors at the bank will be chaired by Dr Cordina and includes a diverse mix of executive and non-executive directors: Nicola Angeli, Ingrid Azzopardi*, Christian Bonnici West, Diane Bugeja, Kenneth Farrugia, Anatoli Grech, Anita Mangion, Hadrian Sammut, Deborah Schembri, Jonathan Spiteri, Robert Suban, and Sue Vella*.

Directors marked with an asterisk are subject to regulatory approval, with their appointments becoming effective upon receipt of such approval.