BOV conducting investigation on allegations of lending malpractices

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BOV conducting investigation on allegations of lending malpracticesBank of Valletta said today referred to the comments made in Parliament by Kristy Debono MP with regards to allegations of lending malpractices in BOV.

"Kirsty Debono reportedly alleged that officials of the bank are being pressurised to issue loans to un-creditworthy people and companies who have connections with people in power."

BOV said that these are serious allegations and the Bank's Internal Audit Department has been instructed to conduct an internal investigation as a matter of urgency to determine whether these allegations are founded.

The Bank will also cooperate fully, as it always does, with the Banking Supervisors should they decide to carry out their own investigations on these allegations, it said.

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