HSBC Bank Malta plc - Interim Directors’ Statement

Thursday, May 16th, 2013

On 16 May, HSBC Bank Malta plc published its Interim Directors’ Statement explaining the Group’s performance during the period 1 January 2013 to 16 May 2013.

HSBC Malta stated that during the period under review, the Group delivered a performance in line with the of the same period last year as it maintained strong balance sheet management (reflected in the strong liquidity and capital positions) as well as effective cost control.

HSBC’s Directors also explained that the Bank experienced a softening in loan demand but loan impairments have remained subdued despite the challenging economic conditions across the Eurozone. The Directors also noted that the Bank’s available-for-sale portfolio remains well diversified and conservatively positioned in line with the Bank’s aim of building a high-quality asset base. On the liabilities side, customer deposits were broadly unchanged in spite of the continued competitive pressures.

The Director and CEO of HSBC Malta Mr Mark Watkinson stated that HSBC continued to deliver positive results for shareholders against a very challenging European backdrop and he indicated that global conditions are set to remain difficult for the medium term.

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