Customer deposits at BOV climb to record €14.5 billion
Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.
The MSE Equity Price Index dropped by 0.66% to 4,099.6 points as declines in nine equities outweighed increases in MIA and Santumas. Meanwhile, four other equities closed unchanged as today’s trading activity on the main market amounted to €0.2 million. Download today’s Equity Market Summary.
Bank of Valletta plc declined by 0.9% to the €2.13 level across ten deals totalling 16,394 shares. Today, BOV published its interim results for the six-month period ended 30 June 2026. Net interest income surged by 9.7% to a record of €207 million as the growth in interest income through both loans and fixed income instruments outweighed the higher interest expenses when compared to the same period last year. Net fee and commission income remained virtually unchanged at €39 million but other income declined. Overall, operating income increased by 3% to €251 million. However, costs also increased to €129 million compared with €117 million in the first half of 2025. As a result, the cost-to-income ratio increased to 51.4% compared to 47.9% in last year’s comparable period. The financial performance was also impacted by an impairment charge of €5.7 million in contrast to a reversal of €3.3 million in the first half of 2025. Overall, pre-tax profit amounted to €120 million (H1 2025: €135 million) and the net profit for the period fell by 11.8% to 79 million. The Directors reiterated that the 2026 profit before tax guidance of between €215 million and €250 million. The statement of financial position showed that loans to customers continued to growth further and reached €8.53 billion while customer deposits also reached a new record of €14.5 billion. Total equity as at 30 June 2026 stood at €1.52 billion, which translates into a net asset value €2.372 per share.
The board of BOV declared a net interim dividend of €33.6 million, which is equivalent to €0.0523 per share and 5.9% lower than the dividend of the first half of 2025. The H1 2026 cash dividend represents a payout ratio of 43% and is payable to all shareholders as at close of trading on Tuesday 4 August 2026. The dividend will be paid on Friday 21 August 2026.
Also in the banking sector, Lombard Bank Malta plc shed 4.2% to the €0.68 level as 15,000 shares changed hands.
Today’s most actively traded equity AX Real Estate plc moved 4.1% lower to the €0.47 level over seven trades amounting to 103,333 shares, although most trades took place at yesterday’s closing price of €0.49.
Malita Investments plc fell by 12.8% to the €0.38 level as 30,000 shares changed hands across four deals.
Plaza Centres plc closed 4.8% lower at the €0.80 level across five trades totalling 20,100 shares.
Main Street Complex plc closed 5% lower at the €0.19 level over negligible volumes.
Similarly, BMIT Technologies (-2.3% to €0.254), M&Z plc (-0.9% to €0.56) and International Hotel Investments plc (-0.8% to €0.585) all ended the trading day lower.
Malta International Airport plc gained 0.8% to the €6.20 level across seven trades totalling 6,000 shares.
Santumas Shareholdings plc moved 0.8% higher to the €1.23 level over a single trade of 8,295 shares.
APS Bank plc (2,619 shares), Harvest Technologies plc (6,400 shares), HSBC Bank Malta plc (10,148 shares), and Quinco Holdings plc (1,000 shares) all traded flat at the €0.55, €1.00, €1.43 and €0.88 levels respectively.
The RF MGS Index snapped a three-session positive streak as it eased by 0.05% to 890.8 points. In fact, sovereign bond yields across the euro area moved higher, with the German 10-year yield rebounding from a two-week low of 3.10% to 3.13% as Brent oil price surged by more than 3% to around USD87 per barrel following renewed hostilities in the Middle East. In the US, the Federal Reserve is widely expected to keep the federal funds target range unchanged at 3.50% to 3.75% for a fifth consecutive meeting despite US inflation easing to 3.5% in June, its first decline in five months. Nonetheless, there is still a higher probability of an increase at the next monetary policy meeting to be held in mid-September.
This report contains only public information and is not to be construed as investment advice or an offer to buy or sell securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange.
The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.
This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.
The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.
This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.