‘The UK’s departure from the EU has introduced new complexities and market volatility’ – BNF CEO

BNF Bank CEO David Power has highlighted the impact that the UK's departure from the EU has had on the banking sector, particularly in terms of introducing new complexities and market volatility.”

Furthermore, Mr Power added that ongoing adjustments and potential future changes continue to pose challenges.

His comments came during a recent Malta Business Network event at its London Branch in Mayfair, focused on the connections and investment links between Malta and the UK from a banking and investment perspective.

BNF has been actively operating in the UK since 2019 with a focus on commercial real estate through bilateral loans and the syndicated loan market in London.

In 2023, BNF was granted approval to operate a third-country branch and became authorised by the Prudential Regulation Authority (PRA) within the Bank of England with the consent of the Financial Conduct Authority (FCA).

During the event, Mr Power remarked that the UK and Malta have enjoyed a strong economic partnership, “underpinned by shared values and a mutual commitment to fostering business growth.”

“The UK has been one of Malta’s most significant trading partners, and our financial institutions have played a crucial role in facilitating this relationship and providing the necessary infrastructure to support cross-border investments, enabling businesses to thrive and economies to grow,” he continued.

The guests shared business insights, opportunities and potential strategies, with the Malta-UK relationship, serving as a common denominator and the intricacies of cross-border relations as a context.

On his part, BNF Bank London Branch Manager Andrew Woods highlighted its position as the only Maltese bank operating a branch in the UK.

“Finding the right financial partner for commercial real estate ventures is a crucial step in the success of a project – it’s not simply about securing funds but also about establishing a relationship that aligns with a project’s goals and the investor’s values,” he said.

Meanwhile, the bank’s CCO George Debono shared that Malta’s profile as a financial centre is well acknowledged and BNF “is a key player in the local sector, as one of the country’s core banks.”

“Following a rigorous and challenging Third Country Branch application process, BNF is now also well set to become Malta’s bank of choice for cross-border business with the UK as well as UK based international investors wishing to invest in Malta,” he added.