HSBC Malta's adjusted profit before tax declined 15.9 per cent in the first half of the year, with the bank blaming the fall on negative interest rates, lower non-interest income and higher regulatory costs. The bank's overall profit rose by 13.8 per cent to reach €41.3m during that period, but that increase was due to a one-off €10.8m sale of investment in Visa Europe, which was bought by Visa Inc. When discounting the Visa Europe sale, profits were a more modest €30.5m, compared to the €36.3m achieved in the same period in 2015. Adjusted performance was in line with management's forecasts, the bank said. Profit attributable to shareholders reached €26.9m, resulting in earnings of 7.5c per share - up from the 6.6c in the same period of 2015. A recommended gross interim dividend of 7.1c per share (4.6c per share net of tax) is 40 per cent higher than the 2015 figure. The interim dividend will be paid on September 9 to shareholders who are on the bank's register as at August 12. The bank's total assets were up €48m when compared to December 31 and now reach €7,284m, while customer accounts were up €52m in the first six months of the year and reached €5,002m as of June 30. Net...
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