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VBAG to Start Selling Process of Volksbank Malta Ltd.
Politics ♦
Published: September 5, 2013; 10:51 ♦ (Vindobona)
The Austrian VBAG has started the selling process of its affiliate Volksbank Malta Ltd. (VB Malta).
VBAG to Start Selling Process of Volksbank Malta Ltd. / Picture: © Österreichische Volksbanken-AG (ÖVAG)
The sale is part of the restructuring plan, created jointly with the EU Commission for VBAG, according to which VB Mala has to be sold until the end of 2015.
VB Malta was founded in 1995 and gained solid revenues in the past years. In the business year 2012, the earnings after taxes came to € 2.2m and a balance sheet total of € 540m. The bank has solid balance sheet with a…
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