Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/wealth-manager/article/a659603
Ex-Barclays high yield boss launches bank for hard pressed farmers
by Dylan Lobo on Feb 18, 2013 at 12:27
Sekula underlined the rationale for the launch: 'UK farm borrowing rose by almost 9% last year according to the latest Bank of England figures, but farmers face a number of issues financing the purchase of machinery and equipment because many banks have reduced their allocation of capital to the sector.
'Farming has always been an important component of British culture, preserving and cultivating rural communities. UK farmers need help to invest in mission-critical machinery and equipment to stay at the forefront of their industry, and demand for finance currently outstrips supply. AgriBank was created to help fill this void, enabling UK farmers to grow their businesses.'
AgriBank holds a European banking licence issued by the Malta Financial Services Authority (MFSA) and has been approved to offer banking services in the UK by the FSA.
Malta will be the home for the bank's head office and will be run by former Central Bank of Malta member Roderick Psaila and ex KPMG employee Paul Grech, who will serve as chief financial officer.
AgriBank’s non-executive directors include the ex-director of the Central Bank of Malta Joe Borg, who will serve as chairman and Victor Rizzo Giusti, who has 35 years’ experience with Barclays, HSBC, Lombard and Volksbank.
News sponsored by:
Subscribe to Wealth Manager magazine and rack up CPD points
Citywire Wealth Manager has partnered with CISI to enrich the experience of subscribers to our magazine.
Today's top headlines
More about this:
Aberdeen Live supplement: Fundamentals point to ongoing flows and solid returns from EMD
After a record year for inflows and market-leading performance in 2012, emerging market debt has taken a large step towards the mainstream. Our recent debate covers the outlook for the asset class this year and where opportunities can be found.
On the road
by Dylan Lobo on May 16, 2013 at 16:17