Times of Malta 16/04/2014: Malta has the opportunity to become a major trade hub, according to Mark Watkinson, HSBC Bank Malta chief executive officer.
Speaking during the bank's annual general meeting today he said that
with the third largest port in the Mediterranean and an unrivalled
geographic position that allows it to act as a bridge between the EU and
North Africa, the potential was very positive.
“In support of this vision, during the year under review, HSBC
launched the €50 million Malta Trade for Growth Fund, designed to meet
the aspirations of Maltese companies to find new export markets and to
look for more competitive overseas suppliers,” said Mr Watkinson.
He described 2013 as a year of considerable challenges, during which
HSBC Bank Malta delivered resilient results that compared favourably
with the sector.
Principal headwinds faced included the continued uncertainty in the
Eurozone, significant regulatory changes and subdued local economic
growth. Despite this backdrop, HSBC Malta delivered a profit before
taxation of €90m for the...read on.