APS Bank recently presented its 2018 results at a corporate event for the financial community.

The presentation followed the annual general meeting which approved the 2018 audited financial statements, the recommendation of a scrip dividend, the re-appointment of Deloitte Malta as external auditors and the re-election of the following directors: Frederick Mifsud Bonnici (chairman), Victor Agius, Franco Azzopardi, Joseph Attard, Laragh Cassar, Alfred DeMarco, Victor Gusman, Michael Pace Ross and Martin Scicluna.

Mr Mifsud Bonnici announced the approval by the general meeting of a one-for-12 rights issue which would be marking the first phase of a process that would support the bank’s projected growth over the coming years. He also spoke about the new 2019-2021 strategic plan and how the vision to grow into an increasingly important bank for the Maltese system “places on us challenges as well as responsibilities”.

In his presentation, CEO Marcel Cassar elaborated on the bank’s record €19 million pre-tax profit in 2018 and other strong performance indicators which “attested to our ability at gaining market share and maximising on opportunities in a buoyant, yet competitive and demanding, environment”.

He also referred to the recent conversion to ‘plc’, which signified the bank’s clear vision and long-term development plans also vis-à-vis capital requirements.

Another announcement related to the launch of the digitally enhanced omni-channel solution ‘myAPS’ in the coming weeks.