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BOV launches new CSR foundation The Bank of Valletta (BOV) Foundation has established a new foundation, the Bank of Valletta (BOV) Foundation, a non-profit organisation primarily aimed at benefiting the public at large and Maltese society as a whole, the bank said.

The foundation was formally launched and the deed was signed at a press conference hosted by BOV Chairman Dr. Cordina and CEO Kenneth Farrugia, who were also present in the presence of BOV COO Ernest Agius, who is responsible for the bank’s Corporate Social Responsibility (CSR) initiatives, and members of the foundation’s board of directors.

BOV explained that community engagement and corporate philanthropy have been a priority for the bank throughout its 50-year history, a commitment that was solidified as early as 2005 with the establishment of the BOV Community Programme.

The bank said it has been actively working to make a positive impact on Maltese society over the years and the establishment of this new foundation is a consolidation of all these efforts.

The Foundation’s purpose is to implement the Bank’s Corporate Social Responsibility strategy, which is based on five pillars: supporting the disadvantaged segments of Maltese society, promoting quality education, preserving Maltese cultural heritage, promoting ethical and responsible behaviour and protecting the environment.

The administration and management of the Bank of Valletta (BOV) Foundation is the responsibility of the Foundation’s Management Committee. The Management Committee will be responsible for the day-to-day affairs of the Foundation, managing its assets and ensuring the achievement of the objectives set by the Foundation.

The board of directors includes Martin Galea (Chairman), Ernest John Agius, Godfrey Swain, Antoinette Caruana and Anita Mangion.

Chairman Dr Cordina said at the signing ceremony: “Bank of Valletta has always played a key role in shaping the Maltese economy, and today its role is even more prominent as a systemically important bank serving a large part of the population. We are deeply rooted in all aspects of Maltese society and therefore the communities in which we operate remain important stakeholders for us.”

Chief Executive Officer Kenneth Farrugia further elaborated: “Fifty years of banking services have given our Bank a significant and close link to the Maltese economy, in the process serving both individual and corporate clients and contributing to the wider needs of the community from a social responsibility perspective. The establishment of this Foundation is a bold statement of intent by the Bank. We are building on that success and strengthening the Bank on multiple fronts, while ensuring that society benefits from that success.”

He added: “Through this foundation, we will continue to support those in need and ensure they have adequate health and quality of life. We will also work across the board to educate and increase financial literacy, protect and promote precious works in the fields of art, creativity and architecture, promote ethical and responsible behavior with business and sports leagues, and become heroes of sustainable development by tailoring products and programs aimed at protecting the environment.”

Commenting on his appointment, Martin Gallia said: “I am honoured to be appointed Chairman of the BOV Foundation. I am very excited to be leading this initiative and I look forward to seeing first-hand the positive impact the Foundation will have on Maltese society.”