Raiffeisen Bank International has advised the Bank of Valletta that it is seeking to terminate its US$ correspondence relationship with the Bank with effect from the 31st of March 2021.

BOV said in a statement that it is in discussions with Raiffeisen regarding the ongoing correspondent banking relationship supporting US$ payments with a view to satisfying any concerns and restoring the position.

The Bank added that it is also actively considering alternative routes to diversify the available channels for the payment of US$.

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