Issue link: https://maltatoday.uberflip.com/i/1466941
Send and receive payments instantly. Create a virtual Mastercard and order a physical one. Trade thousands of stocks, bonds, ETFs and funds. CCTrader is now moneybase. Make money simple. Get started today! Download the app. Investment services are provided through Calamatta Cuschieri Investment Services Ltd (CCIS) C13729 which is licensed by the MFSA. Payment Services are provided by Moneybase Limited (MB) C87193 which is licenced by the MFSA to transact the business of a Financial Institution in terms of the Financial Institutions Act, Cap 376. CCIS and MB are both subsidiaries of the CC Finance Group plc with registered address situated at Level 0, Ewropa Business Centre, Dun Karm Street, Birkirkara, BKR 9034, Malta. €1.50 THURSDAY 5 MAY 2022 • ISSUE 154 WWW.BUSINESSTODAY.COM.MT PAGE 5 PAGE 4 PAGE 3 '€363m Deiulemar case posed existential risk for BOV' - chairman €20.4 million profit before tax for MAPFRE Middlesea in 2021 43% set to quit jobs for better pay and career opportunities STAR PERFORMER MSE FTSE 100 EUR EXCHANGE RATES Trading Date: 4 May 2022 Number of Trades: 153 Turnover: €1,238,720.31 MSE TRX Index: 8,001.365 (Change: +2.811%) Name BOV ORD SHARES MT0000020116 - Currency € Last Traded 4 May, 2022 Price 0.990 Change +0.205 US Dollar 1.0542 British Pound: 0.84429 Japanese Yen: 137.09 Australian Dollar: 1.4751 Swiss Franc: 1.0366 7,493.45 -67.88 7,572.65 / 7,493.45 Value Net variation High / Low 0.90% PAUL COCKS BANK of Valletta risked its very existence had it continued to contest - and lost - a €363 million claim by Deiulemar bondholders, the bank's chairman told BusinessToday. Gordon Cordina said that if the bank had pursued litiga- tion with the bondholders of the defunct Italian shipping company, it would have taken it a minimum of 10 years to recover. "e settlement with Deiulemar reflects the huge risks we faced, risks that were even existential," he said. "If we had proceeded with the litigation and lost, it would have taken us at least 10 years to recover and we could not have survived that." is is the first time a senior BOV official has publicly acknowledged the risks the bank faced in the case. Gordon Cordina says €182.5m settlement will release funds forfeited under precaution security and will leave bank 'in a better place' to issue dividends to shareholders Bank of Valletta chairman Gordon Cordina