Mediterranean Bank was established in June 2004 and one year later became a fully licensed Maltese credit institution, regulated by the Malta Financial Services Authority (MFSA).
In July 2009, Mediterranean Bank was acquired by new shareholders, a fund managed by AnaCap Financial Partners LLP, a UK private equity firm, and was recapitalised.
In September 2014 Mediterranean Bank bought Volksbank Malta Limited, a subsidiary of Volksbank Austria providing banking services to the Maltese retail and corporate sectors.
Volksbank Malta Limited was rebranded under the name of Mediterranean Corporate Bank Limited, thus merging its activities with the corporate banking services offered by Mediterranean Bank.
In 2015, Medifin Holding Limited, the holding company of Mediterranean Bank, completed the acquisition of Charts Investment Management Service Limited, a local investment services company, thus further strengthening its presence in the local market.
As well as growing locally, Mediterranean Bank has also grown internationally, through its Belgian subsidiary operating an online savings, investment and wealth management platform under the MeDirect brand. MeDirect became a fully licenced Belgian bank in 2015.
In 2016, the name of the parent company Medifin Holding Limited was changed to MeDirect Group Limited.