APS registers double-digit growth in loans and deposits

The MSE Equity Price Index declined by 0.2% to 3,916.4 points as declines in APS, BOV, MIA, and Trident outweighed an increase in HSBC. Meanwhile, two other equities closed unchanged as today’s trading activity on the main market amounted to €0.2 million. Download today’s Equity Market Summary.

APS Bank plc fell by 2.9% to the €0.505 level over a single deal of 30,000 shares. Today, APS published their full-year results for 2025. Net interest income grew by 20.1% to €78.7 million amid an increase in interest-earning assets and lower cost of funding. Excluding last year’s €4.8 million uplift in the valuation of investment properties carried at fair value, non-interest income declined by 15.8% to €10.6 million as the improvement in net fee and commission income was outweighed by declines in other income as well as foreign exchange losses. Overall, the Group reported a profit before tax of €26.5 million, representing an 11.5% increase on the €23.8 million reported last year. The net profit attributable to equity holders amounted to €16.3 million.

The Statement of Financial Position as at 31 December 2025 showed that total assets increased by 11.6% (or €484 million) to €4.6 billion principally composed of ‘Loans and advances to customers’ amounting to €3.4 billion compared to €3.0 billion as at the end of 2024. The Group also held financial investments of €463 million and cash and balances with the Central Bank of Malta of €401 million and syndicated loans of €173 million. On the liabilities side, the major movement was the 12.6% (or €464 million) increase in customer deposits to €4.1 billion. As a result, the loans-to-deposits ratio (including syndicated loans) eased to 81.7% compared to 87.0% at the end of 2024. Shareholders’ funds as at 31 December 2025 amounted to €350 million (31 December 2024: €296 million), with the increase mainly driven by the €46.4 million rights issue. The net asset value per share stood at €0.7201.

The Directors of APS are recommending the payment of a final net dividend of €0.015 per share to shareholders as at close of trading on Monday 30 March 2026, subject to regulatory and AGM approvals. Shareholders will have the option to receive the dividend either in cash or in new ordinary shares at an attribution price still to be determined.

Also in the banking sector, Bank of Valletta plc dropped by 1% to the €2.08 level across six trades amounting to 54,909 shares.

Malta International Airport plc lost 0.8% to the €6.00 level as 10,000 shares changed hands across two deals.

Trident Estates plc moved 3.8% lower to the €1.01 level albeit over trivial volumes.

Hili Properties plc stayed at the €0.27 level in a single deal totalling 12,000 shares. Following the close of trading, Hili Properties announced that its Board of Directors is scheduled to meet on Monday 16 March 2026 to consider an application for the delisting of the company’s shares on the Official List of the Malta Stock Exchange. The application would be subject to shareholder approval.

Santumas Shareholding plc held at the €1.10 level over a single deal of 5,000 shares.

HSBC Bank Malta plc gained 2.8% to the €1.48 level across three trades totalling 8,067, although the weighted average price for the day was €1.46 (+1.2%).

The RF MGS Index fell by 0.39% to 897.9 points amid a surge in sovereign yields with the German 10-year bund yield touching a multi-year high of 2.95%. The International Energy Agency announced a 400-million-barrel release from strategic reserves after they warned that oil markets are suffering the largest supply disruption in history. Meanwhile, Iranian leader Mojtaba Khamenei called for the Strait of Hormuz to remain closed, and Iran continue to target oil tankers across the gulf. In this context, oil prices continued to rally, with WTI crude oil futures reaching over USD 97 per barrel.

 

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.