Banif Bank Portugal is to sell its 78.5% stake in Banif Bank Malta to a private Qatari investment group, the Al Faisal group, one of Qatar’s leading private companies.
An EU bailout meant that Banif Bank was forced to put all its foreign investments up for safter it benefited from an EU bailout in 2013, setting 2017 deadline for selling its majority stake in its Maltese bank.
Banif Bank Malta, which has around 150 employees, made a pre-profit of €1.5 million in 2015.
Photo.Prime Minister Joseph Muscat and Sheik Faisal Bin Qassim Al Thani
