Bank of Valletta plc- Approval of Preliminary Statement of Annual Results

Bank of Valletta plc announced that the board has approved the audited financial statements for the 15-month period from October 1, 2016 to December 31, 2017.

The group’s profit before tax for the period was €174.7 million, compared with €145.9 million for the 12-months to September 2016.

Net interest income was up from €148.8 million to €182.9 million while Income from net fees and commission was also up to €86.3 million from €66.1 million. This was in line with the group’s strategy to focus on alternative revenue streams, in order to alleviate the pressures on net interest income.

The board further resolved to recommend for the approval of the annual general meeting, the payment of a final net dividend of €0.052 per share, payable on May 18, 2018 to shareholders on the Bank’s share register as at close of business on April 10, 2018.

Furthermore, shareholders shall be offered the right to elect to receive the dividend either in cash or by the issue of new shares.

To view the official announcement, click here.