MeDirect Bank Malta

MeDirect Bank (Malta) plc (previously known as Mediterranean Bank) is a Maltese bank and financial services company with headquarters in Sliema. The Bank's main focus is on the savings, investments and wealth management sector - both for retail and corporate clients.[2] MeDirect has branches across Malta and Gozo.[3]

MeDirect Bank (Malta) plc
FormerlyMediterranean Bank
TypePublic Limited Company
IndustryBanking
Financial services
Founded2004 (2004)
HeadquartersThe Centre, Tigné Point,
Sliema
,
Malta
Number of locations
2 branches
Area served
Malta
Key people
Michael Adrian Bussey (Chairman)
Arnaud Denis (Chief Executive Officer)
ProductsRetail Banking
Commercial banking
Investment Services
Wealth Management
BrandsMeDirect
Total assets€2,987 million (as of September 30, 2019)[1]
Number of employees
280 (2019)
ParentMDB Group Limited
SubsidiariesMeDirect SA/NV
Websitewww.medirect.com.mt

MeDirect Bank (Malta) plc has a subsidiary bank in Belgium where it is licensed and operates a direct bank known as MeDirect SA/NV that provides online investment opportunities and other saving products to retail investors.

History

MeDirect Bank (Malta) plc started off as Mediterranean Bank in June 2004, becoming a fully licensed Maltese credit institution a year later.[4] Its headquarters and sole offices at that time were in Valletta. In July 2009, the bank was acquired and recapitalised by AnaCap Financial Partners LLP, a UK private equity firm.[5] The bank was extended with new offices in central London, and grew both in Malta and abroad.

In 2010, Mediterranean Bank acquired a majority stake in Charts,[6] a Maltese stockbroking, wealth management and corporate advisory firm, completing its takeover after five years, and then fully incorporating the Charts trading licence in 2018. This enabled MeDirect to offer investment advisory services, as well as corporate broking services to local and international companies.

The bank grew in Malta, creating branches in Sliema and Gozo, and acquiring Volksbank Malta Limited in 2014.[7]

In 2013, MeDirect launched its Belgian business as an online bank offering savings, investments and wealth management services. MeDirect SA/NV became a fully licensed Belgian bank in 2015.[8]

In 2014, MeDirect was Malta’s third largest bank.[9] It is directly supervised by the European Central Bank and by the Malta Financial Services Authority. Its head office is located at The Centre – Tigne Point, Sliema.

MeDirect has supported several Maltese community projects over the years, such as theatres, local sports clubs, cultural sites and charitable institutions.

References
  1. "MeDirect". Financial Highlights. Retrieved 26 June 2019.
  2. "MeDirect". Financemalta.org. Retrieved 31 October 2018.
  3. "Mediterranean Bank opens its new Gozo branch in Victoria". Gozo News.Com. Retrieved 2017-11-27.
  4. "Five years in Malta – the Medbank experience - The Malta Independent". www.independent.com.mt. Retrieved 2019-06-26.
  5. "MEDIRECT BANK (MALTA) PLC (Malta) - Bank Profile, formerly Mediterranean Bank plc - Bank Profile". thebanks.eu. Retrieved 2019-06-26.
  6. "Mediterranean Bank plc acquires majority shareholding in stockbroking firm". Times of Malta. Retrieved 2019-06-26.
  7. "Mediterranean Bank completes €35 million Volksbank Malta acquisition". MaltaToday.com.mt. Retrieved 2019-06-26.
  8. "MeDirect Bank SA/NV: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 2019-06-26.
  9. "Mediterranean Bank Group is now Malta's third largest bank with equity of €170 million". Times of Malta. Retrieved 2019-06-26.


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