News Details

APS Bank registers all-round growth in profits, revenue and assets


Despite the challenging interest-rate landscape and competitive environment, APS Bank Group reported all-round growth in 2016, with Operating Income increasing by 10% to €34.9 million, pre-tax Profit by 2% to €15.8 million and total assets/liabilities by 16% to €1.28 billion. In a year marked by significant investment in new technology and infrastructure projects, human capital, reorganisation as well as increasing compliance and regulatory requirements, the Group returned a Cost-Efficiency Ratio of 54.4% and a strong Total Capital ratio of 16.9%.

These results were announced at the 2016 Presentation of Financial Results, held on Wednesday, 26th April, 2017.

Chairman E.P. Delia described the results as “very satisfactory … as they encourage us to look ahead with confidence”. He noted that “such a performance was underlined by the Group’s values of social and ethical banking and the collective contribution of all stakeholders”.

2016 was also marked by a number of significant milestones, such as the successful implementation of a new core banking system, initiation of a branch network transformation as well as strong business growth at the level of retail, MSME and mid-cap commercial facilities, with deposits and lending activity increasing by 16%. Another mark reached was the surpassing of the €100 million under management in APS Funds SICAV and the formation of a wholly-owned investment management subsidiary ReAPS Asset Management Limited. APS Bank has also been making progress in the suite of products and services it offers, from home finance to EIF-supported business schemes. The Bank will also shortly be launching a range of social banking services.

CEO Marcel Cassar hailed the results as “fruits of a strategy that draws on the Bank’s market strengths and maximises on the business and revenue opportunities that they offer.” Referring to the various projects and reforms in progress, he emphasised that “APS will remain a customer-friendly bank … we will not use technology to replace personal interaction with the customer”.

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APS Bank Ltd is licensed to undertake the Business of Banking and to conduct Investment Services business by the Malta Financial Services Authority and is enrolled in Tied Insurance Intermediaries List under the Insurance Intermediaries Act 2006