Deutsche Bank granted Maltese banking licence

German banking giant Deutsch Bank will be expanding its offices in Malta, having acquired a full banking licence from the MFSA. Finance minister Tonio Fenech made the announcement during a press conference on Wednesday. He claimed that this was good news for the finance sector of the smallest European Union state, which is already renown for financial services.

No details were given as to which sector Deutsche Bank intends to infiltrate, but it is understood that the bank shall target international trade and finance rather than the local retail market.