Izola Bank plc – Annual Report 2012

Izola Bank plc announced that the Board of Directors has approved the Annual Report for the financial year ended 31 December 2012.

During the year ended 31 December 2012, the Bank generated a profit before tax of €2,408,367, up 4.8% on 2011. Profit after tax was €1,569,061, an increase of 2.1% over the previous year. Net interest income increased by 6% whilst net fee and commission income decreased by 9% over the previous year.

The Directors have proposed a final dividend of €1,500,000 in respect of 2012, representing a dividend per share of €3.75. The shareholders have signified their intention to re-invest the major part of the proceeds of the dividend issue in the Bank through a capital contribution.

Earnings per share increased to EUR 3.92.

To view the official company announcement, click here.