ECCM Bank

ECCM Bank plc is a Maltese bank that serves companies rather than the high street. It was established on 1 July 2014 and runs its banking business from modern offices at The Adelaide on Tower Road in Sliema, a short walk from the promenade. The bank is licensed and regulated by the Malta Financial Services Authority, the island's financial regulator. UK readers who want wider background on how banking fits into the island's economy can start with our overview of financial services in Malta, and the bank is listed in our directory of banks in Malta.

What the bank does and who it serves

The core activity is lending to international corporate clients. The bank's borrowers work in industries such as wood manufacturing, shipping, logistics and real estate, and its exposure is spread across a range of countries rather than concentrated in one market. Its lending takes the form of project financing, invoice discounting and revolving credit facilities.

This is not a branch where you open a personal savings account on the way to the beach. A company that trades across borders, needs working capital or wants to finance a vessel or an aircraft is the typical client, and that is the lens through which the rest of this page should be read. If you are weighing up where to base a company, our guide to Malta's corporate tax structure explains how the island treats company profits.

Accounts and deposits

Business current accounts handle day-to-day transactions and the payment of invoices. They are available in all major currencies, payments can be sent and received, and balances and electronically delivered statements can be viewed on the bank's payments platform.

For surplus funds there are two deposit types, both in euro only. A term deposit places money for a fixed period at an agreed maturity date, with interest paid, and no withdrawals or extra deposits are allowed during the term. A notice deposit has no fixed maturity: money can be withdrawn after giving notice of 31, 60 or 90 days, additional deposits are accepted within the same notice bracket, and an early withdrawal is possible but carries a breakage fee.

Lending, guarantees and specialist finance

Overdraft and revolving credit facilities provide working capital. They are offered in euro, with other currencies possible at the bank's discretion, repayable on demand but renewed each year, and security may be requested depending on the borrower's credit profile. Term loans fund investment projects and asset purchases over an agreed period, and can be structured as term, bullet, syndicated or subordinated loans.

Invoice discounting is aimed at improving cash flow. The bank discounts 85 per cent of the amount owed by a client's debtors, adjusts the balance monthly and takes no collateral, but only insured debts qualify, and amounts owed by the client's related companies are excluded. The bank also issues compliance, performance and advance payment guarantees in euro, and arranges risk participation transactions, where one institution passes on part of the risk of a loan to another.

Two specialist lines suit Malta's character as a maritime and transport hub. Marine finance provides asset finance for building or buying vessels, and aviation finance supplies capital for buying or leasing aircraft. Corporate advisers such as CLA Malta work alongside banks on company set-up.

Payment services

The bank processes inward and outward customer payments in euro, Swiss francs, sterling and US dollars, with other currencies available given prior notice. SEPA transfers are available in euro to countries in the European Economic Area, and SWIFT transfers cover all currencies. A UK company paying suppliers in Malta or receiving funds from Europe will find sterling and euro both supported.

Anyone planning a business trip to the bank's neighbourhood can combine it with a stay in one of the hotels in Sliema. If you are still choosing between professional firms, other directory listings include AE Business Advisors and Apex Group in Malta.

Getting in touch

ECCM Bank is based at The Adelaide, Tower Road, Sliema. The bank gives no standard pricing for its corporate products, because terms depend on the client and the risk involved, so the sensible first step is a short note describing your company and what you need. Use the VisitMalta.co.uk enquiry form on this page and we will pass your message to the bank. If you are relocating a business or yourself, our UK guide to moving to Malta covers the wider practicalities.