Österreichische Volksbanken-AG (VBAG) has sold its banking subsidiary Volksbank Malta Ltd. to the Maltese Mediterranean Bank plc. After the signing in April and regulatory approval the closing took place today.

With the sale VBAG strengthen its capital ratios while meeting another edition of the restructuring plan of the European Commission. According to that plan, Volksbank Malta had to be sold till the end of 2015. VBAG has been advised on the transaction by KPMG Corporate Finance (Austria and Malta) and Schönherr Rechtsanwälte.

For further information, please contact:
Petra Roth
Österreichische Volksbanken-Aktiengesellschaft
Tel.: +43 (0)50 4004-3838
Mail: petra.roth@volksbank.com

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