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News - Media Releases 2018

20/10/2018

Satabank plc

Reference is made to the public notice issued by the Malta Financial Services Authority (MFSA) on 20 October 2018 with respect to Satabank plc.

Following the decision taken by the MFSA to scale up the appointment of the Competent Person, in terms of Article 29(1) (c) and (d), to take charge of the assets and assume control of the business of this bank, as the competent authority may direct, the Central Bank of Malta has decided to suspend with immediate effect the participation of Satabank plc in TARGET2-Malta. 

Satabank plc is a small international bank and these measures will have minimal impact on the domestic economy.

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