HSBC Bank Malta reports increase in profits and dividends during H1

  • Reported profit before tax of €41.3m for the six months ended 30 June 2016. The reported performance was €5m or 13.8% higher than for the same period last year.
  • Adjusted profit before tax of €30.5m, which excludes the effect of the significant non-recurring item (explained under ‘Financial Performance’ on page 2), down 15.9% compared with the same period in 2015, primarily due to adverse impact of negative interest rates, lower non-interest income due to risk management actions and temporary effect of higher regulatory costs.
  • Profit attributable to shareholders of €26.9m for the six months ended 30 June 2016 resulting in earnings per share of 7.5 cents compared with 6.6 cents in the same period in 2015.
  • Common equity tier 1 capital ratio of 12.5% as at 30 June 2016, up from 12.3% at the end of 2015.
  • Recommended gross interim dividend of 7.1 cents per share (4.6 cents per share net of tax), 40% higher than the 2015 interim dividend.
  • Cost efficiency ratio adjusted for the non-recurring significant item of 59.6% for the six months ended 30 June
  • 2016, compared with 55.6% for the same period in 2015. The ratio was impacted by lower adjusted revenue, whereas the underlying costs remained flat reflecting solid cost discipline.
  • Return on equity adjusted for the non-recurring significant item of 8.5% for the six months ended 30 June 2016, compared with 10.5% for the same period in 2015.
  • Total assets of €7,284m at 30 June 2016, up €48m compared with 31 December 2015.
  • Customer accounts of €5,002m at 30 June 2016, up €52m compared with 31 December 2015

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