APS Bank completes the conversion to a Public Limited Company

APS

APS Bank announced that the conversion of the bank from a ‘limited liability company’ (“Ltd”) to a ‘public limited company’ (“plc”).

In a statement the bank announced that the conversion followed a resolution passed at the 2018 Annual General Meeting where a new Memorandum and Articles of Association were adopted and 1 April was selected for the conversion.

APS Bank further explained that the change in designation did not affect the operations of the Bank, nor does it change the authorization status as a licensed credit institution, investment services provider and tied insurance intermediary.

APS Bank CEO Marcel Cassar described the conversion as another step in the Bank’s journey which is paving the way for future development of our capital base.