APS Group this morning reported pre-tax profits of €13.8 million, a 39.8 per cent increase over the €9.9 million reported in 2012.
The bank saw an increase in loans of 8.06 per cent, partly from ongoing growth in home loans but also from new sectors which the bank has entered into added in a slow but steady way, chairman Lino Delia said.
Bank deposits were also up by 5.23 per cent and the bank actually managed to write back a €1.6 million from its loan provisioning.
2013 saw the completion of a capitalisation exercise through which €12 million were injected into the bank. The group’s share capital now stands at €57.6 million giving the bank a strong capital ratio of 17 per cent.