Lombard's pre-tax profit up by a quarter

Lombard Bank Malta plc and its subsidiaries registered a pre-tax profit of Lm2.09 million (€4.87 million) for the six months ending June 30, representing an increase of 26 per cent over the same period last year, the bank said yesterday. Earnings per...

Lombard Bank Malta plc and its subsidiaries registered a pre-tax profit of Lm2.09 million (€4.87 million) for the six months ending June 30, representing an increase of 26 per cent over the same period last year, the bank said yesterday.

Earnings per share also continued to rise to 16c1 (37.50 euro cents) from 12c7 (29.58 euro cents) last year.

Profit after tax attributable to shareholders rose by 28.7 per cent to reach Lm1.38 million (€3.21 million) when compared to Lm1.07 million (€2.50 million) in the corresponding period last year.

On July 30, the bank issued a company announcement informing the public that its wholly owned subsidiary Redbox Ltd entered into an agreement with the government for the acquisition of a further 25 per cent of the issued and paid-up share capital of Maltapost plc, subject to Cabinet approval.

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