Analysis of bank statistics

We refer to Anthony Curmi’s article Banking Statistics At A Glance (June 7).

... he (should) have compared the various Bank Group figures rather than referring exclusively to Bank Solo figures...- Margrith Lütschg-Emmenegger, president, FIMBank Group, Sliema

We laud Mr Curmi’s endeavour to give a journalistic focus on the local banking sector. Such articles should contribute towards the development of an informed investor community in Malta. However, we feel the need to point out that Mr Curmi’s aims would have been better achieved had he compared the various Bank Group figures rather than referring exclusively to Bank Solo figures, as he, in fact, did.

Our conclusion on the efficacy of Mr Curmi’s analysis was not reached on the basis of on an arbitrary or convenient interpretation of financial figures but, rather, on the paramount consideration that the numbers provided in the article do not reflect the financial position of the legal entity, as quoted in the Malta Stock Exchange, in which investors invested money (in our case, the FIMBank Group).

Consequently, we feel that it would be worthwhile for Mr Curmi to undertake a similar exercise to the one he made in his article but this time focusing his attention on the financial position of local banking institutions’ group figures. Such an article would provide a more significant analysis as explained above and which, in turn, would serve to better inform investors.