APS Bank has reported a pre-tax profit of €8.4 million for last year.

Bank chairman Emanuel P. Delia said the results showed that social commitment was not inconsistent with profitability. 

He told the bank's annual general meeting that  total assets rose to €814.3 million last from €786.6 million, with lending increasing by €50.7 million. Deposits decreased by €11.9 million, but the Bank availed itself of other sources of funds, he said.

Mr Delia expressed his gratitude to all stakeholders because it was their joint-collaboration that made possible the results registered in 2011. Following the increase in its capital base over the three year period 2011-2013, the Bank will be expanding its branch network in the near future, he said. It will also be introducing new communication channels to reach the general public.

 

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