https://www.um.edu.mt/library/oar/handle/123456789/6030 2026-04-08T08:04:19Z 2026-04-08T08:04:19Z https://www.um.edu.mt/library/oar/handle/123456789/6257 2018-06-22T08:12:19Z 2015-01-01T00:00:00Z

Title: Customers' attitudes towards ATMs : a Maltese perspective Abstract: Rapid technological evolutions, globalization and financial deregulation have altered the way in which banks operate and deliver services to their customers. In particular, the enhancement in technology has resulted in an increase in the choice of service delivery channels. Nowadays, bank customers are being educated and persuaded to use different delivery channels such as automated teller machines (ATMs), telephone banking, Internet Banking (IB) and mobile banking. The shift from traditional banking to electronic banking has proved to be beneficial for both banks and customers, resulting in increased convenience and efficiency. Nonetheless, some customers are still faced with difficulties and challenges such as lack of trust in the service and fear of privacy and security. This thesis explores the adoption rate of ATMs by Maltese customers and also customers' attitudes towards ATMs. Malta has adapted very well to modern methods in order to stay in line with the changes in technology and customers' needs and wants. However, some Maltese customers still refuse to adopt ATM services and would rather conduct their transactions through a human bank teller. This research categorises bank customers into adopters of ATMs, non-adopters of ATMs and customers who make use of both ATMs and human bank tellers, and investigates the reason is behind their choice. This study shows customers' level of education is positively related to the adoption rate; people with a higher level of education are more likely to be adopters of ATMs. Occupation is also positively related to the adoption rate of ATMs, thus people who are employed are more likely to be adopters of ATMs. Age, however has a negative relationship to the adoption rate; the majority of elderly people are non-adopters while the majority of people who use ATMs are in the younger age bracket. Description: B.COM.(HONS)BANK.&FIN.

2015-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/6256 2015-11-06T02:07:00Z 2015-01-01T00:00:00Z

Title: The impact of structured investment products with fixed-income characteristics on the performance of fixed-income portfolios Abstract: Structured investment products are a relatively new concept in the financial world given that they only gained popularity in the early 1990s. In this regard, this research is still in its infancy and of particular interest to researchers in the field. The literature reviewed showed that particular attention is given to the field of portfolio management and the role which structured investment products play when included in the asset allocation structure of portfolios. Consequently, the study aims to build on previous studies carried out in this area and seeks to assess the impact which structured investment products with fixed-income characteristics have on fixed-income portfolios. The study was conducted over a twenty-one year period between 1 January 1994 and 31 December 2014 whereby given the nature of the data required for backtesting, a quantitative analysis was sought. This analysis led to the creation of three traditional portfolios mainly invested in bonds with a small portion also allocated to equities for which indices were used as proxies. Furthermore, another nine portfolios similar to the traditional ones were created each of which included one of the structured products constructed. In total, three types of structured products were created, each having a one year maturity. Thus twenty-one products from each structured product category were created and launched into the nine portfolios on an annual basis. Subsequently, the performance of each of the twelve portfolios was estimated by building and ultimately comparing the efficient frontier for each portfolio. In addition, several performance ratios namely the Sharpe Ratio, the Treynor Measure and the Jensen Measure were also calculated to allow for a more comprehensive analysis. The study revealed that portfolios including the participation product tend to outperform the traditional portfolios as opposed to the yield enhancement product which did not generate a favourable outcome. The portfolios including the capital guaranteed product on the other hand had stable to positive results when compared to the traditional portfolios. On a final note, the model constructed makes it possible to be applied in a real-world context whereby the performance of actual portfolios can be tested through the model to ultimately determine whether structured products tend to improve the performance of both fixed-income and equity portfolios. Description: M.SC.BANK.&FIN.

2015-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/6255 2017-08-18T09:40:02Z 2015-01-01T00:00:00Z

Title: The fourth anti-money laundering directive : the implications on trustees Abstract: This dissertation seeks to examine the impact that the proposed fourth Anti Money Laundering Directive will have on the Maltese trust sector. The dissertation also points out the work being done by the Maltese Financial Intelligence Analysis Unit, the European Union, the Financial Action Task Force and the International Monetary Fund in order to fight Money Laundering and Funding of Terrorism. We use a triangulation methodology approach to amalgamate the views of Trustees together with those of the Malta Financial Services Authority, the Financial Intelligence Analysis Unit and the Jersey Financial Services Commission. The main findings were that all participants thought the removal of exemption from conducting due diligence was a positive change as this will reduce risk for both the Trustee and also for the Country where business is being conducted. On the other hand participants had conflicting views as to whether the legislation would lead to more consolidation in the trust sector due to higher costs. The introduction of the Public Register of Ultimate Beneficial Owners has also generated a lot of discussions and in fact the access to such a register has now been amended which change seems to have been welcomed by the trustees, by the regulator/supervisors and other organizations. An important finding was that the majority of Trustees foresaw a negative economic future for the Maltese Trust sector following the implementation of the new legislation. Description: M.SC.BANK.&FIN.

2015-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/6250 2017-10-02T10:04:43Z 2015-01-01T00:00:00Z

Title: The profitability of significant credit institutions within the euro area Abstract: This study empirically analyses a set of selected determinants of profitability (bankspecific, industry-specific and macroeconomic) for a sample of 39 significant credit institutions, operating in 17 European Member States and that will be directly supervised by the European Central Bank, over the period from 2005 to 2013. This study also investigates the impact of the recent financial crisis on the profitability of euro area significant credit institutions. To achieve the aims and objectives of this dissertation a panel data model is estimated using a least square fixed effects model. This study finds that the profitability of significant credit institutions is influenced by both bank-specific and external macro-economic factors. Banking sector concentration is found to have the largest positive statistically significant impact on return on average assets and equity whereas the cost-to-income ratio is found to have a negative impact on bank profitability. On the other hand, bank assets size and the rate of inflation have no influence on bank profitability. Finally, as expected, the global financial crisis impacted negatively on the profitability of significant credit institutions in the euro area. The main contribution of this thesis is that it is the first study, as far as we are aware, to examine the factors influencing the profitability of significant credit institutions that will be directly supervised by the ECB. Description: M.SC.BANK.&FIN.

2015-01-01T00:00:00Z