HSBC Bank Malta plc - Interim Directors’ Statement

HSBC Bank Malta plc issued its Interim Directors’ Statement on 19 November which confirmed that the HSBC Malta Group maintained good business growth to date in 2007, continuing the positive profit and balance sheet trends reported in its 2007 half-year results.

As at 31 October 2007 both customers’ deposits and customers’ loans increased strongly over the prior October end, whilst maintaining a steady and stable loans to deposits ratio. The core income and profitability levels disclosed in the first half 2007 results were sustained during this financial period. There was no deterioration in the quality of credit lending whilst liquidity and solvency indicators remained sound and ahead of regulatory levels.

Shaun Wallis, Director and Chief Executive Officer commented “The Bank continues to deliver on our strategy of building sustainable growth by focusing on our main customer groups – putting them at the centre of everything we do. By leveraging the HSBC Group’s global expertise, we have increased business efficiency to support our increased client base and business volumes, and to reduce our unit costs. HSBC Malta has a conservative balance sheet policy with relatively minimal funding from the wholesale markets, and minimal investment in non-government securities. Consequently, the uncertainty that has affected international markets over recent months has had no material impact on our business. We remain confident that we can continue to grow the business and revenues and in a sustainable manner through the remainder of this year.”

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