“Multitude Bank increases ownership in Lea Bank to 20.9%, solidifying its position as the largest shareholder…”

Malta-based Multitude Bank plc has boosted its ownership in Lea Bank AB to 20.9%.

Malta-based Multitude Bank plc has boosted its ownership in Lea Bank AB to 20.9%, solidifying its position as the largest shareholder and strengthening its strategic hold in the Nordic consumer finance market.

Multitude AG and Bank CEO, Antti Kumpulainen, stated that this expansion strengthens their presence and deepens the synergy between the two banks, highlighting their shared focus on digital efficiency, scalability, and customer-centric solutions. He also noted the significant opportunities for future collaboration and value creation for stakeholders.

The approximately €15 million acquisition, funded by Multitude Bank’s existing cash reserves, is anticipated to generate attractive returns through dividends and other income, while also facilitating further strategic partnerships. The bank stated that this move aligns with its long-term growth strategy, which includes organic growth, partnerships, and acquisitions.

This investment follows Multitude Bank’s initial 9.9% acquisition in October 2024 of shares in the then Lea Bank ASA. A subsequent merger between Lea Bank ASA and Lea Bank AB removed the need for Norwegian regulatory approval.

Lea Bank, founded in 2016 and listed on Nasdaq Stockholm (LEA), specializes in consumer loans (Norway, Sweden, Finland, and Spain) and deposit products (Norway, Germany, Spain, Austria, and France). With 50 employees and over 70,000 customers, Lea Bank is positioned for further European expansion.

Multitude Bank’s increased stake emphasizes its commitment to expanding its European presence, using synergies to fuel innovation and growth in digital banking. Multitude Bank plc is a subsidiary of Multitude AG, formerly known as Ferratum.

New Malta Government Stocks – Publication of Prices

February 13, 2025 – The Treasury Department announced the pricing for two new Malta Government Stocks (MGS):

• 3.00% MGS 2030 (IV): Priced at €101.00 per €100 nominal, offering a yield-to-maturity of 2.8082% per annum.

• 3.50% MGS 2035 (III): Priced at €100.50 per €100 nominal, offering a yield-to-maturity of 3.4438% per annum.

These stocks are available to the general public in multiples of €100 nominal, with a maximum subscription of €499,900 nominal per application.

The subscription period for the general public will open on Monday, February 17, 2025, and close on Wednesday, February 19, 2025, at 2:30 PM.

The Accountant General reserves the right to close the subscription period earlier.

IHI p.l.c. Announces Application for New Bond Issue

International Hotel Investments plc (IHI) has applied for listing of €35 million in 5.30% unsecured bonds due in 2035 with the Malta Financial Services Authority. This new bond issue will partially fund the redemption of the company’s €45 million 5.75% unsecured bonds maturing on May 13, 2025.

IHI explained that this reduced bond exposure aligns with the Board’s strategy to lower overall debt while focusing on increasing profitability from its hotel operations. This includes recently launched hotels in New York and Brussels, as well as upcoming openings in Bucharest, Rome, and the Gulf within the next year.

To be eligible for this offer, bondholders must be registered holders of the maturing bonds by the close of trading on February 17th. This means the official Cut-Off Date for eligibility is February 19th. Trading of the maturing bonds on the Malta Stock Exchange will be suspended after the close of business on February 17th and will remain suspended until further notice.

More information about the new bond issue will be released after regulatory approval is received from the MFSA.

Further information about the new bond issue will be released after regulatory approval is granted.

Malta Company Announcements:

Maltapost plc

Subject to shareholder’s approval at the Annual General Meeting on February 20, 2025, MaltaPost’s Directors have announced a final net dividend of €0.024 per share, a 20% increase from the €0.02 dividend of the previous financial year.

This marks the first dividend increase since the company’s 2008 IPO. Despite higher profits, the payout ratio is 63%, down from 83% last year. The dividend will be paid on Thursday, March 20, 2025, to shareholders of record as of close of trading on Friday, January 17, 2025.

HSBC Bank Malta plc

On 4 February 2025, HSBC Bank Malta plc announced that its Board of Directors is scheduled to meet on Wednesday 19 February 2025 to consider the approval of the audited financial statements for the financial year ended 31 December 2024.

The Directors will also consider the declaration of a final dividend to be recommended to the Bank’s Annual General Meeting which will be held on Tuesday 13 May 2025.

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