Bank of Valletta, in a statement on Friday, advised that its USD correspondence relationship with Raiffeisen Bank International is being extended by two months to the 31st of May.

The Bank announced in October last year that Raiffeisen Bank International had advised BOV that it is seeking to terminate its US$ correspondence relationship with effect from the 31st of March.

At that time, BOV said that it was “in discussions with Raiffeisen regarding the ongoing correspondent banking relationship supporting US$ payments with a view to satisfying any concerns and restoring the position.”

Meanwhile the Bank said today that it “is making progress to source alternative arrangements for its USD correspondent transactions.”

Permalink: Raiffeisen Bank extends USD correspondence with BOV till May