Fimbank Group has announced an after-tax profit of $4.55 million for the six months ended June 30, an increase of 12 per cent on the $4.08 million in the first half last year.

The consolidated interim results approved by Fimbank’s board of directors on Tuesday show group operating income stood at $18.65 million, down slightly from $18.95 million in 2011, while total consolidated assets increased by six per cent to remain above the $1 billion mark at June 30.

Group basic earnings per share rose to 3.20 US cents from 2.88 US cents in 2011.

The first half of the year was characterised by deepening uncertainty in global confidence, underlined by problems in the eurozone and a relative slowing down in the main emerging markets.

The report concluded that “navigating these rough waters remains a challenge for the Fimbank Group, while creating opportunities for a niche player in the finance of international trade”.

Chairman John Grech affirmed that the group would face the future with optimism knowing it is “well positioned to succeed in the new financial landscape”.

“We are confident that the robust nature of Fimbank’s successful business model will enable the group to meet the challenges ahead and to manage the outcome of turbulent economic and market forces,” Dr Grech said.