Josanne Cassar | HSBC BANK MALTA P.L.C. HALF-YEARLY RESULTS FOR 2015

HSBC Bank Malta registered a profit before tax of €36m for the six months ended 30 June 2015. The performance was €4m lower than for the same period last year but was higher than for the second half of 2014. Net operating income was up 3% year-on-year, however, higher costs and loan impairment charges contributed to the decline in the first half profits.

Profit attributable to shareholders of €24m for the six months ended 30 June 2015 resulting in earnings per share of 6.6 cents compared with 7.1 cents in the same period in 2014.

Common equity tier 1 capital ratio of 11.5% as at 30 June 2015, up from 10.6% at the end of 2014.

Cost efficiency ratio of 55.6% for the six months ended 30 June 2015, compared with 53.2% for the same period in 2014. Managed costs were well controlled; however total costs increased as a result of new regulatory costs, continued investment in risk and compliance staff and additional expenses in relation to outsourced services.

Return on equity of 10.5% for the six months ended 30 June 2015, compared with 11.6% for the same period in 2014.

Total assets of €7,682m at 30 June 2015, up €483m, or 7%, compared with 31 December 2014.

Customer accounts of €5,198m at 30 June 2015, up €331m, or 7%, compared with 31 December 2014.

HSBC BANK MALTA P.L.C. HALF-YEARLY RESULTS FOR 2015

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