ECONOMIC VISION 2016: BUSINESS. FINANCE. ECONOMY.
“The bank believes there are significant prospects for its customers to grow internationally as a result of the increasing opportunities resulting from global trade.” – Andrew Beane, HSBC Bank Malta
Another of Malta’s largest banks, HSBC, will be facing 2016 under the governance of new CEO Andrew Beane. Looking towards the immediate future for both HSBC and the local banking sector, Mr Beane states that despite the fact that 2016 is expected to be another challenging year for the banking sector, HSBC Bank Malta looks forward to the potential that the new year will bring with it as the bank connects its customers to growth opportunities. “While continuing to play a key role in supporting the Maltese economy given the increasing number of projects, new businesses and FDI, the bank believes there are significant prospects for its customers to grow internationally as a result of the increasing opportunities resulting from global trade, as well as the funding being made available by HSBC Malta through the ¤75 million Malta Trade for Growth Fund launched in June this year,” he continues. Within the insurance sector, Keith Mallia-Milanes, Assistant General Manager at Mapfre Middlesea p.l.c. explains that for years, the Maltese insurance market, along with the rest of Europe, has been preparing and organising itself for the introduction of Solvency II. “After almost 15 years since its inception, January 2016 will see this regulatory and reporting framework finally introduced and implemented. This will primarily be the latest legislative tool that measures and ensures the capital adequacy of insurance carriers in Europe,” he maintains.
“January 2016 will see Solvency II finally introduced and implemented. This will primarily be the latest legislative tool that measures and ensures the capital adequacy of insurance carriers in Europe.” – Keith Mallia-Milanes, Mapfre Middlesea
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