Lombard Bank Malta's major shareholder Marfin, of Cyprus, has announced a record net loss of €3.3 billion in 2011 after incorporating a 62% "haircut" on toxic Greek bonds.
Marfin Popular Bank acquired a stake in Lombard Bank Malta plc in 2007, and its equity has grown to 48.9% since then. It's the second largest bank in Cyprus and the fifth largest bank in Greece, listed on both countries' stock exchanges. Its largest shareholder is Dubai Financial, a member of Dubai Investment Group, the Gulf emirate's investment arm.
Lombard Bank is also the majority shareholder (67%) in Maltapost, the island's only postal service.
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