Bank of Valletta plc - USD Correspondent Bank

On 29 January 2021, Bank of Valletta plc announced that further to the previous announcement issued on 9 October 2020 whereby the Bank had explained that Raiffeisen Bank International (“Raiffeisen”) is seeking to terminate its USD correspondence relationship with BOV with effect from 31 March 2021, BOV explained that the relative USD correspondence relationship is being extended by two months to 31 May 2021. In the meantime, the Bank also noted that it is making progress to source alternative arrangements for its USD correspondent transactions.