Inauguration of Malta Development Bank New Premises

Inauguration of Malta Development Bank New Premises

On 23rd November 2022, on the occasion of its fifth anniversary, the Malta Development Bank’s new Offices in Floriana were inaugurated by the Hon. Prime Minister Robert Abela, in the presence of the Minister for Finance and Employment, Mr Clyde Caruana.

The building, which was painstakingly restored to its former glory, dates back to the late 18th century. Renovations within the building included ​extensive external works as well as internal modifications and improvements. The new premises are consonant to the growing demands of the Bank as its increases its outreach in the Maltese economy, supporting it towards new avenues of growth.


The event was addressed by the Chairman of the ​Bank, Prof Josef Bonnici and the CEO, Mr Paul V Azzopardi who shared their recollections of the first five years of the MDB’s operations while highlighting the policy direction and the key initiatives and financing programmes for the years ahead.

Prof Bonnici expressed his gratitude and appreciation towards all those persons who throughout the past five years worked to transform the idea of a development bank into a reality and to elevate the MDB as the highly-reputable institution it is today. Mr Azzopardi explained how in a relatively short period of five years, the MDB reached over 700 businesses which employ some 40,000 persons, and almost 400 students, providing guarantees exceeding €600 million.