Mediterranean Bank Network News

Green friendly financing on the increase at Bank of Valletta

Monday, 23 May 2016

Bank of Valletta reported an increase in market demand for green financing solutions.

Speaking in the wake of the new grant recently launched by the Government, Bank of Valletta Chief Officer Consumer Finance, Mr Edward Grech stated, “More people are seeking to invest in energy saving solutions. Cognisant of this reality, the Bank is offering a special scheme under its BOV ECO Loan for people seeking to invest in photovoltaic systems or solar water heaters, purchased from a number of retailers participating under this special scheme.”

Loan amounts may vary between EUR1,000 and EUR 15,000, repayable over a maximum period of three years. “We have built important benefits into our product, making it more attractive for potential customers. These include wavering of processing fees and security, as well as very competitive interest rates. Interest due on these loans will be paid by the retailers who are participating under this special scheme. Furthermore, customers can use this product in conjunction with the grant presently being offered by the Regulator for Energy and Water Services, as well as the PV Feed-in-Tariff of 16c5 for the first six years,” he concluded.

Bank of Valletta has only recently upgraded its BOV ECO Personal Loan, which can cater for a broader spectrum of purposes.” The BOV ECO Loan can be utilised to finance the purchase of new motor vehicles, as long as their CO2 emission levels are below 100g/km, or 130g/km where the applicant is concurrently scrapping another motor vehicle under the Government Car Scrappage scheme. One may also apply for this loan to purchase motor cycles, electric or hybrid motor vehicles, or to convert motor vehicles to run on auto gas.

“The importance we give to the Green stakeholder is not limited to our product offerings,” explained Charles Azzopardi, Head PR & Marketing at the Bank. “In line with our corporate responsibility, we seek to implement energy saving measures ourselves. In fact, every year, the Bank invests in its fleet of photovoltaic systems, which to date number over 520 spread across 21 units.” Bank of Valletta also supports various green initiatives like the Earth Hour, and collaborates with third parties to support green projects. Furthermore, the Bank encourages its employees to involve themselves directly, both at home and at work.”

Member banks
  • The Bank of Valletta Group is a leading financial services provider in Malta, providing retail banking, investment banking, private banking, fund management, bancassurance, stockbroking and trustee services.

  • Spain’s fourth largest private banking group, covering all areas of the financial business sector under a common denominator: professional performance and quality.

  • One of the leading banks in the Kingdom of Jordan. A bank that has distinctly adapted continuous development and improvement schemes in all of its activities.

  • BPCE Banques Populaires network has 8,500,000 clients and customers (including 3,900,000 members), more than 3,338 branches, and is part of the second largest French banking group – the BPCE Group.

  • With the largest network of banking, the Banque Populaire Group is the leading banking network in Morocco .By the end December 2012, its network was 1145 branches and over 1323 ATMs.