Lombard Bank Malta last week announced pre-tax profits of €11.94 million for the year ended December 31, 2010, up 2.8 per cent over 2009.

Group post-tax profit at €9.04 million was up by 12.1 per cent on €8.06 million in the previous year.

Group operating income stood at €38.79 million, up by 6.4 per cent, while group earnings per share reached 23.2c, over 20.8c in 2009.

Loans and advances to customers at €333.73 million rose by 1.8 per cent. Customer deposits at €472.70 million increased by 5.9 per cent.

Shareholder funds increased by 11.5 per cent to reach €71.71 million.

Total assets under management stood at €567.80 million, up 4.6 per cent.

The annual general meeting is set for April 28. The board is to recommend the meeting approves the payment of a final ordinary gross dividend of €0.115 (net dividend €0.07475) per nominal €0.25 share.

This will be paid on May 6 to shareholders on the company’s register as at March 29.