Bank of Valletta made an adjusted profit of €68 million in the first six months of this year, up 5% over the same period last year.
In the January to June 2016 period, the bank had sold its interest in Visa Europe for €22 million, and the interim report has been adjusted for this one-off, to compare like with like.
The bank reported net impairments of €6 million for the period (2016: €3 million), saying that this was the result of “settlement of various non-performing exposures, reflecting the group’s efforts to improve the quality of the loan book”.
The bank’s financial year used to end on September 30 but this has now been changed to December 31. The six-month report for October 2016-March 2017 was reported last April.
Cost to income ratio: 50% (2016: 48%) Loans and advances: +2.4% Core Tier 1 ratio: 13.3% Return on equity: 18% |