The Malta Development Bank (MDB) is stepping up its strategic mission to support Malta’s economic transformation, with an intensified focus in supporting access to finance for the country’s most critical sectors. The Bank is positioning itself as a key driver of resilience and competitiveness—ensuring Maltese businesses can weather economic uncertainty and emerge stronger and more innovative. This emerged from the presentation of the Bank’s Annual Report for 2024, which was released today.
From the green transition and digital innovation to SME and infrastructure support, the Bank’s strategy signals a clear shift toward long-term impact. Aligned with Vision 2050, the MDB is seeking to enhance its role as driver of progress in a globally changing environment.
In 2024, the Malta Development Bank extended its two flagship financing programmes—the SME Guarantee Scheme and the Guaranteed Co-Lending Scheme—reinforcing its commitment to supporting enterprise growth and investment. In the coming weeks, the Bank will further expand its offering with the launch of two new targeted initiatives: one aimed at accelerating investment in sustainable projects, and another dedicated to supporting Malta’s growing creative and cultural sectors.
The Bank also presented its financial statements for 2024, reporting a profit of €4.2 million. This follows a profit of €3.2 million in 2023, enabling the Bank to fully recover its start-up costs and bringing accumulated profits to €4.4 million, all while maintaining robust provisions for potential loan defaults. This financial result reflects disciplined cost control and strategic revenue generation—without turning away eligible, bankable projects.
MDB Chairman Mr Leo Brincat said: “Looking beyond past crises response, the MDB is uniquely positioned to unlock growth and economic potential through simplified tailored financial solutions. The future calls for a bold MDB forward looking approach. A road that calls for a marked shift towards stepped up strategic investment and innovation in the face of global macroeconomic uncertainty and shifting trade dynamics. The MDB must align its mandate with the parameters of Vision 2050, while focusing on driving sustainable and inclusive growth by addressing persistent access to finance challenges and driving productivity across key sectors.”
CEO Paul V Azzopardi added: “The Bank’s unique position allows it to serve a public policy purpose—addressing critical gaps in financing for SMEs and students—without relying on taxpayer funding and maintaining its autonomy from Government. This self-sustaining model ensures that the Bank, with proper ethical leadership, can continue its mission for years to come, contributing to socio-economic development and empowering individuals and businesses to succeed.”