HSBC Bank Malta plc – Approval of Interim Financial Statements for the period ending 30 June 2016

HSBC Bank Malta plc issued its interim Financial Results for the financial half year ended June 30, 2016.

The company reports an increase of 13.8 per cent in profit before tax at €41.3 million, when compared to the first six months of 2015. However, after adjusting performance to exclude the gain on disposal of Visa Europe, adjusted profit before tax stood at €30.5 million – down by 15.9 per cent from 2015. This was a consequence of the current negative interest rate environment, lower non-interest income due to risk management actions and temporary effect of higher regulatory costs. Earnings per share stood at €0.075.

The board of directors recommended a gross interim dividend of €0.071 cents per share (€0.046 net of tax) which will be paid on September 9, 2016 to shareholders who are on the bank’s register as at August 12, 2016.

To view the official Company Announcement, click here.