Financial services sector grew by 2.3% last year, now employs 12,230 people – MFSA
The financial services sector grew by 2.3% year on year in terms of direct Gross Value Added (GVA) reaching a total of €657m, the Malta Financial Services said in its annual report.
The sector generated 430 new jobs last year, reaching a total of 12,230. This represents almost 5% of total employment in Malta.
The indirect effect of financial services in the Maltese economy is estimated to be between 9-10% of GVA.
The financial service regulator’s audited financial statements and annual report were published on Monday. The report looks back on the key areas of work and transformational projects undertaken by the organisation throughout 2019.