News Details

APS Bank removes high-balance fee on financial corporate deposits

03/08/2022 07:30:00

At the livestreamed presentation of the Financial Results for the Half-Year Ended 30 June 2022, APS Bank plc announced that it is removing the high-balance fee on significant deposits held by financial corporates. Following the recently announced increases in interest rates by a number of central banks, the Bank decided to reduce the high-balance fee from 0.5% to 0% with effect from 1 August 2022.

Marvin Farrugia, Head of Asset Liability Management stated, “With this action we are effectively passing a benefit to those clients, namely corporate, financial and institutional, that hold high liquid balances from time to time. While we were always very selective in the application of a maintenance fee, this is now being removed altogether.”

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APS Bank plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994 and to carry out Investment Services activities under the Investment Services Act 1994. The Bank is also registered as a Tied Insurance Intermediary under the Insurance Distribution Act 2018.