Lombard Bank group today reported a pre-tax profit of €13.77 million in 2018, an increase of 55.3% over the previous year.
In a statement published on the Malta Stock Exchange website, the bank said that profit attributable to equity holders of the bank was €8.45 million, or 64.7% above that in the previous year.
The bank cost efficiency ratio improved to 47.4% (Group: 77.8%) from 51.4% (Group: 79.6%) in 2017.
Net loans and advances to customers increased by 19.3% to €511.12 million while customer deposits rose by 7.5%, reaching €788.04 million, an increase of €54.89 million over the previous year.
Group total assets rose to €950.07 million (€882.75 million in 2017). Group profit after tax increased by 56.7% to €8.94 million as the group experienced positive trends in most of its business lines.
Pressure from low-interest rates persisted as did increased costs from higher regulatory and compliance requirements, the bank said.
Nonetheless, net interest income, at €17.51 million, rose by 13.5% mostly as a result of increased customer lending, transaction banking and prudent treasury management.
The directors resolved to recommend the payment of a final gross dividend of 5 cent (net dividend of 3.25 cent) per nominal €0.25 share. This will be paid on 17 April 2019 to shareholders appearing on the bank's Register of Shareholders as at 12 March 2019, the last trading date being 8 March 2019.
from The Malta Independent https://ift.tt/2TxRoEE
via IFTTT
No comments:
Post a Comment