‘Welfare of our employees and their families comes first,’ says APS CEO as bank launches provident fund

APS Bank CEO Marcel Cassar has said that a provident fund set up by the bank to help staff who are going through difficult times is reflective of the institution's founding ethos.

In a statement, APS said the fund was intended to aid staff members who were facing challenging personal and family circumstances. Such social, medical, and other difficulties had only been aggravated by the pandemic.

"Although the Bank has always generously supported individual cases as best as possible, the APS Provident Fund will now provide a structure that steps in to assist cases involving not only employees but also their dependents. Aside from the Bank’s own contribution to the Fund, staff members can participate either as donors on a voluntary basis or as beneficiaries. Donations can take various forms, including fund-raising activities and offering vacation leave to the Fund’s assistance pool," the bank said.

Mr Cassar said: “We are again putting the welfare of our employees and their families first. The Provident Fund, which will be managed by a Committee and have its own Charter, will provide support to our staff in a structured way and when they need it most. Launched just before Christmas, I am touched by the overwhelming response with which this was welcomed across the APS Group – an idea that echoes to the very origins of the Bank over a century ago.”

Mr Cassar was appointed CEO of APS Bank in 2016. He has also been a lecturer at the Faculty of Laws and the Faculty of Economics, Management and Accountancy at the University of Malta for more than 25 years.