APS Bank
| Private | |
| Industry | Banking |
| Founded | 1910 |
|
Key people
|
Prof. L. Delia, Chairman |
| Products | Commercial banking, Investment banking, Private banking, Asset management |
|
Number of employees
|
~200 |
| Subsidiaries | APS Consult Ltd., APS Funds Sicav plc. |
| Website | apsbank.com.mt |
The APS Bank, successor of the Unione Cattolica San Giuseppe, is a Maltese bank established in 1910 by a Jesuit, Fr. Michael Vella and in 1948 the bank's ownership was transferred to the Archdiocese of Malta and Gozo.
The bank was incorporated into a private limited liability company in 1970 and granted a commercial licence in 1990. Since then it has kept expanding its operations in a number of different directions. Today it employs some 200 staff working in seven branches and agencies across Malta and Gozo. APS Bank holds two subsidiaries, namely APS Consult Ltd and APS Funds Sicav plc.
In October 2010, culminating its 100 year anniversary celebrations, the bank inaugurated a modern seven storey Head Office block in Swatar, Birkirkara. APS Bank is an active member of FEBEA - The European Federation of Ethical and Alternative Banks and Financiers.
The Lega dello Apostolato della Preghiera was set up on the initiative of the Jesuit Fr. Michele Vella, with the first meeting of the Committee held on 8 May 1910. The main aims were the setting up of a number of initiatives, all with an underlying social nature, namely -
The savings bank was set up immediately as the Cassa di Risparmio dell’Apostolato della Preghiera, the Apostleship of Prayer Savings Bank – the acronym deriving from which would eventually become the Bank's name – APS. The Bank accepted its first deposits on 7 December 1910, and in order to disseminate the Bank's ideals and principles, parish centres were set up in various towns and villages. Over the years, the profits from this Bank were utilised in order to implement and maintain the other social projects on the Lega's list of main aims.
Eventually, the Lega changed its name to Unione Cattolica San Giuseppe with the aim of being helping both in a spiritual and also in a practical manner, with the Bank becoming popularly known as Il-Bank ta’ San Gużepp.
During its first thirty years of operation, the Bank registered steady progress with deposits increasing substantially. However, the Second World War hampered the Bank's activities, as the parish centres had to be closed.
After the war, the Committee transferred the Unione with all its branches, including the Bank, to the Archdiocese of Malta. This was effected by a private deed dated 18 November 1947. Although the Bank kept a very low profile, progress was maintained. Along the years, the Bank contributed towards the implementation of various projects, such as the extension to Id-Dar tal-Kleru, and subsidies to various associations of a religious and cultural nature.
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Wikipedia