| MeDirect Bank (Malta) plc | |
| Former Name: | Mediterranean Bank |
| Type: | Public Limited Company |
| Industry: | Banking Financial services |
| Location: | The Centre, Tigné Point |
| Hq Location City: | Sliema |
| Hq Location Country: | Malta |
| Num Locations: | 2 branches |
| Area Served: | Malta |
| Key People: | Michael Adrian Bussey (Chairman) Arnaud Denis (Chief Executive Officer) |
| Products: | Retail Banking Commercial banking Investment Services Wealth Management |
| Brands: | MeDirect |
| Assets: | €4,500 million (as of June, 2023)[1] |
| Num Employees: | 350 (2023) |
| Parent: | MDB Group Limited |
| Subsid: | MeDirect SA/NV |
MeDirect Bank (Malta) plc (previously known as Mediterranean Bank) is a Maltese bank and financial services company with headquarters in Sliema. MeDirect is a pan-European retail digital challenger bank, with two main lines of business: WealthTech and specialised mortgage lending.
The Bank offers a wide range of services to retail and corporate clients, including, savings, investments, wealth management, lending facilities and daily banking services. MeDirect's branches are located within their headquarters in Sliema (Malta) and in Victoria (Gozo).[2]
MeDirect Bank (Malta) plc has a subsidiary bank in Belgium where it is licensed and operates a direct bank known as MeDirect SA/NV that provides online investment opportunities and other saving products to retail investors.
In 2023, the bank also launched its web and mobile platform in the Netherlands with a dedicated Dutch language website.[3]
MeDirect is Malta’s third largest banking group in terms of total assets. It has been designated in 2015 as a Significant Institution under the criteria of European Banking Supervision, and as a consequence is directly supervised by the European Central Bank.[4] Its Joint Supervisory Team includes staff of the ECB, the Malta Financial Services Authority and the National Bank of Belgium.
MeDirect Bank (Malta) plc started off as Mediterranean Bank in June 2004, becoming a fully licensed Maltese credit institution a year later.[5] Its headquarters and sole offices at that time were in Valletta. In July 2009, the bank was acquired and recapitalised by AnaCap Financial Partners LLP, a UK private equity firm.[6] The bank was extended with new offices in central London, and grew both in Malta and abroad.
In 2010, Mediterranean Bank acquired a majority stake in Charts,[7] a Maltese stockbroking, wealth management and corporate advisory firm, completing its takeover after five years, and then fully incorporating the Charts trading licence in 2018. This enabled MeDirect to offer investment advisory services, as well as corporate broking services to local and international companies.
The bank grew in Malta, creating branches in Sliema and Gozo, and acquiring Volksbank Malta Limited in 2014.[8]
In 2014, MeDirect became Malta’s third largest bank.[9] It is directly supervised by the European Central Bank and by the Malta Financial Services Authority. Its head office is located at The Centre – Tigne Point, Sliema.
In 2021, MeDirect launched its home loans service in Malta,[10] The bank now offers mortgages in Malta, Belgium and the Netherlands with a total portfolio in excess of €2.2 billion.
In 2023, MeDirect Bank Malta launched its card services and hence entered the daily banking market. [11] As at 30 June 2023, the Group had a total of more than 114,000 customers who hold more than €4.5 billion in assets.[12]