Mr. Christo Georgiev, Chairman of the Board of Directors of Signia Group AG
‘’The inauguration of the offices of Satabank p.l.c. is a statement of the Bank’s intentions to be in Malta and to grow its operations even further. Today Satabank employs around 20 people to service its operations in Malta and its strategy is to have in excess of 100 employees in the coming months. Malta was not chosen by chance but the decision was taken after a rigorous process which was undertaken to find a suitable jurisdiction which is at the same time attractive and can support our growth.’’
This was stated by Mr. Georgiev during the inauguration of the offices of Satabank p.l.c in St. Julians by the Honourable Prime Minister Joseph Muscat on March 11th, 2016.
Mr. Georgiev said that Satabank’s strategic objective is to become a leading player by providing innovative banking services through the use of state of the art technology and alternate delivery channels. He stated that the Bank strives to be different by providing innovative and specially tailored solutions for our individual, business and corporate clients.
Satabank decided to set up a base in Malta due to its legal and regulatory framework, operational considerations, intellectual capabilities and the political and economic scenario. Malta offers strong access to the European Market, with the presence of international and reputable accounting, auditing and law firms operating in a highly regulated sector. We intend to be to be in Malta and to grow our operations even further. An invaluable support for this goal will be Malta’s highly trained and expert workforce with a continuous supply of resources made available from various high-quality educational institutions coupled with a stable social and economic environment, with a financial services sector which is considered as one of Malta’s flagships of its striving economy and a strong technological and digital framework.
Dr. Joseph Muscat Prime Minister of Malta
During the inauguration, the Prime Minister said that is clear that Malta is powering ahead and there has been strong increases in both investment and private consumption. Economic growth is broad based with the majority of sectors recording positive growth. It should be no surprise that the financial services and the services sector continue to expand, with SATABANK now part of Malta`s success story.
“Malta is doing well but can perform even better in the future if we do the groundwork now. I am sure that SATABANK will be part of the expanding economy in the years ahead. It is encouraging to note that you are planning a raping growth, from 30 employees to 100 employees over the next few months. In know that you put great store on innovation, on technological advances. This gives us a great deal of encouragement.“ added Dr. Muscat.
SATABANK PLC official inauguration by the Prime Minister Joseph Muscat