On 6 May, Lombard Bank Malta plc published its Interim Directors’ Statement relating to the performance of the Lombard Group since the start of 2011. During the period under review, the Bank continued to pursue a cautious and prudent approach in all its dealings given the uncertainty in the Eurozone created by the sovereign debt crisis and the moderate economic growth being registered by the European bloc. Moreover, the Directors revealed that there is no direct negative impact on the Bank’s business in relation to the political unrest in Libya.
Overall, the Bank’s pre-tax profit figures remain at the same levels as those for the corresponding period last year. Lombard noted that its Bank’s postal subsidiary, MaltaPost plc, continues to perform well albeit with a marginal reduction in the current pre-tax profit as compared to the corresponding period last year.
Lombard maintained its robust financial fundamentals with capital and liquidity ratios remaining well in excess of regulatory requirements.
Going forward, the Board of Directors looks to achieving further positive results for the half-year term.