BOV and ATTO renew collaboration agreement

Bank of Valletta (BOV) and the Association of Tractor and Trailer Operators (ATTO) have further consolidated their long-standing business relationship by signing a new Collaboration Agreement for the next two years.

The agreement was signed by BOV Chief Executive Officer Kenneth Farrugia and ATTO Chairman Joseph Bugeja, in the presence of BOV Chief Operations Officer Ernest Agius, Head of Business Development & Customer Value Kenneth B Micallef, and ATTO board members and industry practitioners, at the BOV Centre in Santa Venera.

The alliance between the Bank and ATTO goes back several years. This agreement is one of several business alliances established by the Bank with various organisations across different sectors,

Through its agreement with ATTO, BOV said it is supporting Malta’s logistics and transport sector. This collaboration also helps the Bank better understand the sector’s specific challenges and opportunities, enabling it to provide solutions such as trade financing and cross-border payments.

Speaking about the renewed agreement, BOV CEO Kenneth Farrugia noted that transportation plays a critical role in modern industry and is a key contributor to many economies around the world. “BOV remains committed to helping this sector transition towards more efficient and sustainable operations. We continue to provide financing solutions that encourage investment in modern, efficient and environmentally responsible vehicles, helping to reduce environmental impact, while supporting the long-term viability and competitiveness of the industry”, said Mr Farrugia.

ATTO Chairman Joseph Bugeja underlined the industry’s importance to Malta’s economy and stressed the value of collaborations that help address the challenges facing the industry. He thanked Mr Farrugia for the Bank’s continued support and stated: “This agreement strengthens ATTO’s capacity to support a key pillar of Malta’s logistics sector, ensuring reliable daily connectivity with mainland Europe.”

ATTO represents logistics operators in Malta and plays a vital role in connecting Malta to international markets. ATTO members are responsible for transporting approximately 85 per cent of Malta’s imports and exports via International Trailer Services.

Photo: BOV