In a special report issued on the 16th of April 2013, Fitch Ratings Agency analysed the Malta financial and banking situation. This lead to the agency issuing a rating for Malta:
‘A+’ rating with a stable outlook.
The report highlighted the fact that the banking system in Malta is no way comparable to Cyprus. The report studied the Maltese banking sector, which is the second largest in Europe after Luxembourg, and determined that is more secure and therefore less vulnerable when compared to Cyprus:
“While both Malta and Cyprus seemingly have large banking sectors that substantially exceed the size of their economies and that rely to some degree on funding from non-resident depositors, a closer examination reveals substantial differences”. As mentioned in the article ‘Fitch: Malta Does Not Face Same Bank System Risks as Cyprus’.