“APS Bank achieved significant growth across its operations, demonstrating resilience in the face of narrowing profit margins…”

APS Bank plc has reported substantial growth in its balance sheet for the year ending December 31, 2024, with total assets reaching €4.2 billion, an increase of €500 million. This expansion was primarily driven by a €314.7 million rise in net loans and advances to customers, alongside a significant increase in customer deposits, which grew by €532.8 million to €3.7 billion.

However, the bank’s pre-tax profit decreased to €23.8 million, down from €30.2 million in 2023. This reduction in profitability was primarily attributed to narrowing net interest income, which fell to €65.5 million from €73.6 million. This decline resulted from increased interest expenses, rising from €32.1 million to €49.2 million, reflecting both MREL funding costs and higher interest rates passed on to depositors.

Despite these margin pressures, APS Bank demonstrated robust operating fundamentals. Net fee and commission income rose by 7.3 percent to €8.9 million, fueled by increased activity in investment services and card transactions. Other income surged to €8.4 million, benefiting from a €4.8 million uplift in investment property valuations. Furthermore, the bank’s non-performing loan ratio improved to 1.5 percent, the lowest in recent years, highlighting the strength of its credit underwriting.

Operating expenses increased to €56.9 million, up from €52.6 million, reflecting investments in human resources and technology. Consequently, the cost-to-income ratio rose to 68.7 percent, primarily due to the contraction in net interest income.

CEO Marcel Cassar commented, “Despite global economic challenges and margin pressures, APS Bank has delivered its strongest ever all-round growth. We continue to support Maltese businesses and households, with double-digit growth in deposits, lending, and liquidity. However, this was not reflected in profits due to ongoing margin pressures. Our digital transformation is central to our strategy, and we are actively pursuing strategic acquisitions to scale our operations and expand our market reach.”

The Board of Directors has proposed a final dividend of €0.026 per share, which can be taken either in cash or as new shares at €0.57 per share, bringing the total gross dividend for 2024 to €13.0 million, subject to regulatory and shareholder approval.”

Klikk Finance plc Sees Revenue Growth Despite Pre-Tax Loss in 2024

Klikk Finance plc experienced revenue growth in 2024, reaching €8.2 million, a 4% increase from the previous year. However, rising costs, particularly in cost of sales and administrative expenses (up 6.3%), led to a decline in profitability and a pre-tax loss of €56,000, reversing a €7,000 profit from 2023.

The company’s gross profit margin fell to 14.2% from 16.4% in 2023. Strategic restructuring included the sale of CDK Limited, resulting in a minor gain of €251. Due to the loss, the board opted against a dividend payment.

Despite the overall loss, Klikk Finance plc’s retained earnings increased to €189,380, and the group’s accumulated losses improved to €820,268. The company’s financial outlook is expected to improve significantly following its acquisition by GO plc at the end of 2024. Directors anticipate synergies from the acquisition and reduced finance costs through bond buy-backs to drive future growth and stability.

Malta Company Announcements:

Lombard Bank Malta plc

The Board of Directors of Lombard Bank Malta p.l.c. (the ‘Bank’) is scheduled to meet on                                 16 April 2025 to:-

• approve the Group’s and the Bank’s final Audited Accounts for the Financial Year ended 31 December 2024; and
• consider the declaration or otherwise of a final dividend to be recommended to the Bank’s forthcoming Annual General Meeting (subject to regulatory approval).

 General Meeting The Bank also announces that the forthcoming Annual General Meeting (‘AGM’) will be held on 22 May 2025. Further information relating to the AGM will be announced at a later date and published on the Bank’s website www.lombardmalta.com in the Investor Information section. Furthermore, pursuant to the Capital Market Rules, a shareholder or shareholders holding not less than 5% of the voting issued share capital of the Bank may: a) request the Bank to include items on the agenda of the AGM, provided that each item is accompanied by a justification or a draft resolution to be adopted at the AGM; and b) table draft resolutions for items included in the agenda of the AGM. The request to put items on the agenda of the AGM or the draft resolution referred to above should be submitted to the Bank in hard copy form or in electronic form to companysecretary@lombardmalta.com at least forty six (46) days before 22 May 2025, i.e. by 6 April 2025, and shall be authenticated by the person or persons making it. The Bank shall not be obliged to entertain any requests by shareholders after 6 April 2025.

MedservRegis plc

The Board of Directors is scheduled to meet on the 22nd April 2025 to approve and publish the consolidated financial statements of the Company for the period ended 31 December 2024. 

Annual General Meeting

The forthcoming Annual General Meeting (the AGM) of the Company will be held on the 29th May 2025.  Placing of items/resolutions on Agenda Shareholders holding not less than 5% of the issued share capital of the Company may:

a.  request the Company to include items on the agenda of the AGM, provided that each item is accompanied by a justification or a draft resolution to be adopted at the AGM; and

b.  table draft resolutions for items included in the agenda of the AGM. 

The request to put items on the agenda of the AGM or the draft resolution referred to above shall be submitted to the Company in hard copy or electronic form to investors@medservregis.com by the 12th April 2025 and shall be authenticated by the person/s making it. The Company shall not be obliged to entertain any requests by shareholders after the 12th April 2025.

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