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23.2.2023 6 MARKETS Symbol Volume Value Trades High Low Open Closing Change Code Traded Traded Trades Price Price Price Price EQUITIES GO 10 27.80 1 2.780 2.780 2.780 2.780 0.000 HSB 1,000 740.00 1 0.740 0.740 0.740 0.740 0.000 MIA 150 840.00 1 5.600 5.600 5.600 5.600 -0.050 PG 290 603.20 1 2.080 2.080 2.080 2.080 0.000 CORPORATE STOCKS G32GA 147,600 155,108.40 6 105.120 105.000 105.000 105.120 0.120 CORPORATE BONDS AX26A 3,000 2,565.30 1 85.510 85.510 85.510 85.510 -9.490 BV30B 11,100 9,990.00 1 90.000 90.000 90.000 90.000 -2.000 DF26A 15,000 14,999.00 2 100.000 99.990 99.990 100.000 0.050 GH27A 25,000 24,375.00 2 97.500 97.500 97.500 97.500 0.000 HF27A 7,100 6,851.50 2 96.500 96.500 96.500 96.500 -1.350 HF28A 4,300 3,810.23 1 88.610 88.610 88.610 88.610 -7.390 HP25A 15,200 15,184.80 2 99.900 99.900 99.900 99.900 0.050 IB32A 15,000 14,895.00 2 99.900 99.000 99.000 99.900 0.900 IH25A 3,000 3,030.00 1 101.000 101.000 101.000 101.000 -1.000 IH26B 4,100 4,017.59 1 97.990 97.990 97.990 97.990 -0.010 MO31A 5,000 4,711.50 2 94.250 94.000 94.000 94.250 0.250 26A 15,000 14,400.00 1 96.000 96.000 96.000 96.000 -0.500 MY32A 4,600 4,473.50 1 97.250 97.250 97.250 97.250 0.000 PC26A 5,000 4,779.30 2 95.600 95.500 95.600 95.500 -2.000 SD27A 18,000 17,280.00 2 96.000 96.000 96.000 96.000 0.000 SF27A 13,400 12,745.00 4 96.000 92.500 96.000 92.500 2.490 ST27A 19,000 18,675.00 4 99.500 97.500 97.500 99.500 2.000 TG26A 5,600 5,488.00 1 98.000 98.000 98.000 98.000 0.000 TI27A 5,000 4,550.00 1 91.000 91.000 91.000 91.000 -8.000 Malta Stock Exchange Regulated Main Market Trading Date: 22 Feb 2023 ECB to monitor digital transformation efforts at banks THE European Central Bank is to undertake targeted reviews and on-site inspections at banks after uncovering a number of shortcomings in digital transfor- mation strategies. Last summer, the ECB con- ducted a survey among 105 large banks to assess the status of their digital transformation. e cen- tral bank says early results reveal some interesting trends falling across six policy areas. e survey found that almost all European institutions have a digital transformation strategy, typically consuming a fifth of the IT budget, although the degree of maturity differs. Main objec- tives are becoming more cus- tomer-centric in how products and services are offered as a lever to increasing revenues and im- proving operational efficiency by automating processes and mod- ernising IT infrastructures. However, most of the banks still face challenges in developing Key Performance Indicators (KPIs) to monitor digital progress, quanti- fy the impact of digital transfor- mation on their profitability and track effectiveness of implemen- tation. Keeping track of digital customers and sales also remains a challenge for many. Having sufficient IT experience both in the board as well as the second and third lines of defence remains an attention point, with advances in new technologies such as cloud, APIs and artifical intelligence gaining greater rele- vance. "As banks open up their IT in- frastructures and increasingly rely on third party providers, they face heightened risks of third-party dependency, money laundering, fraud and cyberse- curity," states the ECB. "ese risks require further monitoring and must be taken into account in banks' governance and risk appetite frameworks. ese risks are also among the supervisory priorities of ECB Banking Super- vision for 2023-2025." Another survey conducted last year by tech vendor ITRS among 300 technology and IT executives across North Amer- ica, Europe and Apac, found that many belive the rapid rate of digital transformation in the financial services industry is distorting the capability of their IT systems, raising serious con- cerns about ongoing operational resilience. e ECB stresses that its aim is not to discourage digital trans- formation initiatives, acknowl- edging that it is "not just an op- tion any longer for banks, but a necessity to remain competitive and continue meeting customers' evolving demands".

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