The Malta Independent on Sunday
BOV launches new CSR Foundation
Another milestone in the bank’s 50-year history.
Bank of Valletta has just launched a new foundation, the Bank of Valletta (BOV) Foundation, a non-profit making organisation aimed primarily at benefiting the general public and Maltese society at large. The foundation was launched during a press conference presided over by BOV chairman Dr Cordina and CEO Kenneth Farrugia, who signed the deed. Present were also Ernest Agius, chief Operations officer at BOV responsible for the bank’s Corporate Social Responsibility (CSR) programme, as well as members of the foundation’s Board of Administrators.
Community engagement and corporate philanthropy have always been a top priority for the bank throughout its 50-year history, a commitment that was consolidated back in 2005 with the establishment of the BOV Community programme. Over the years the bank has played an active role in making a positive impact on Maltese society, and the setting up of this new foundation is a consolidation of all these efforts. The purpose of the Foundation is to implement the bank’s CSR Strategy based on five pillars: supporting vulnerable members of Maltese society, fostering quality education, protecting Maltese heritage, promoting ethical and responsible conduct and speaking up for the environment.
The administration and management of the BOV foundation is vested in the foundation’s Board of Administrators. The Board will see to the day-to-day affairs of the foundation, managing its assets and ensuring that the objectives set out by the foundation are reached. The Board of Administrators are Martin Galea as chairperson and Ernest John Agius, Godfrey Swain, Antoinette Caruana and Anita Mangion.
Sustaining our commitment to Maltese society – Dr Cordina, chairman
Speaking during the signing ceremony, Dr Cordina said: “Bank of Valletta has always played a critical role in shaping the Maltese economy, more so today as a systemically important bank that services a large percentage of the population. With deep roots in many aspects of Maltese society, the communities that we operate in remain important stakeholders for us. The BOV Foundation is another step in the right direction in our efforts to be leaders and innovators in the financial sector, and a catalyst for positive change.”
Contributing to the wider needs of the community – Farrugia, CEO
CEO Farrugia elaborated further: “Five decades of banking services have enabled our bank to forge an important and closeknit affiliation with the Maltese economy, servicing personal and business clients in the process and contributing from a social responsibility perspective to the wider needs of the community. The setting up of this foundation is a bold statement of intent by the bank. We are building on our successes, strengthening the bank on multiple fronts and at the same time ensuring that society reaps the benefit of this success.”
A foundation built on the bank’s community reach-out programme – Agius, COO
“Bank of Valletta’s community reach-out programme has always offered tangible support to various aspects of community life. Through this foundation we will continue to support people in need, ensuring an adequate level of health and quality of life. We will also be approaching education holistically to boost financial literacy, preserving and promoting the treasured work in artistic, creative and architectural sectors, promoting ethical and responsible conduct together with business and sports alliances, and becoming sustainability heroes by tailoring products and initiatives aimed at safeguarding the environment.”
Spearheading an exciting new initiative – Galea, BOV Foundation chairperson
Speaking about his appointment, Galea said: “I am proud to have been appointed as chairperson of the BOV Foundation. It is an exciting time to be spearheading this initiative and I look forward to seeing firsthand the positive impact that the Foundation will have on Maltese society.”