News Details

APS Bank presents its 2018 financial results, announces rights issue & outlines strategy for growth

25/04/2019

2018 Financial results

 

APS Bank presented its 2018 results at a corporate event for the financial community held at the Corinthia Palace Hotel & Spa on Thursday 25 April, 2019. 

The presentation followed the Annual General Meeting which approved the 2018 Audited Financial Statements, the recommendation of a scrip dividend, the re-appointment of Deloitte Malta as external auditors and the re-election of the following directors: Mr Frederick Mifsud Bonnici (Chairman), Mr Victor E Agius, Mr Franco Azzopardi, Dr Ing Joseph C Attard, Dr Laragh Cassar, Mr Alfred DeMarco, Mr Victor Gusman, Mr Michael Pace Ross and Mr Martin Scicluna.

Chairman Mifsud Bonnici announced the approval by the General Meeting of a 1 for 12 Rights Issue which would be marking the first phase of a process that would support the Bank’s projected growth over the coming years. He also spoke about the new 2019-2021 Strategic Plan and how the vision to grow into an increasingly important bank for the Maltese system “places on us challenges as well as responsibilities”.

In his presentation, CEO Marcel Cassar elaborated on the Bank’s record €19 million pre-tax profit in 2018 and other strong performance indicators which “attested to our ability at gaining market share and maximising on opportunities in a buoyant, yet competitive and demanding, environment”. He also referred to the recent conversion to ‘plc’, which signified the Bank’s clear vision and long term development plans also vis-à-vis capital requirements. Another announcement related to the launch of the digitally enhanced omni-channel solution ‘myAPS’ in the coming weeks.

The 2018 Annual Report and Audited Financial Statements of APS Bank plc can be downloaded from this link: www.apsbank.com.mt/annual-reports

 

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APS Bank plc 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