HSBC Bank Malta plc – Preliminary Statement of Financial Results

The Bank announced the following Highlight's from it's preliminary 2016 Annual Results,

Reported profit before tax of €62.2m for the year ended 31 December 2016, an increase of €15.4m, or 33%, compared with prior year. 

Adjusted profit before tax, which excludes the effect of non-recurring items as explained later in the ‘Commentary’, was €59.4m, 3% down on 2015 but in line with management expectations. 

Net dividend for the year was €26.1m, up 45% compared with the prior year. 

Common equity tier 1 ratio increased to 13.0% at 31 December 2016 from 12.3% at 31 December 2015. The total capital ratio was 14.0% at 31 December 2016, compared with 14.2% at 31 December 2015. .

Cost efficiency ratio adjusted for the non-recurring items was 60%, compared with 59% in 2015. 

Adjusted return on equity for the year ended 31 December 2016 was 8.3% compared with 8.8% in 2015. 

Earnings per share of 11.2 cent compared with 8.5 cent in 2015. 

The advances to deposits liquidity ratio remained stable at 66%. 

Net loans and advances to customers were €3,320m, up 1% compared with 2015. 

Customer deposits increased by 1% to €5,001m at 31 December 2016.

To view the full announcement, click here.