BOV reports further growth in loans and deposits

The MSE Equity Price Index remained unchanged at 3701.740 points as the declines in Harvest, HSBC, Lombard, MIA and the ordinary shares of RS2 outweighed the gains in GO, MIDI and Medserv. Meanwhile, three other equities closed unchanged as today’s trading activity amounted to €0.24 million. Download today’s Equity Market Summary.

Bank of Valletta plc closed unchanged at the €1.90 level over fourteen deals amounting to 95,414 shares. Today BOV issued a Quarterly Financial Update providing information about its performance during the nine-month period ended 30 September 2025 when compared to the same period in 2024. Net interest income decreased by 1.4% to €286 million (3Q 2024: €291 million) driven by a 12.7% increase in interest expenses to €43.9 million from €38.9 million last year. Net fees and commission income climbed 9.5% higher to €61.9 million (3Q2024: €56.6 million). BOV also registered trading profits of around €9.9 million. Meanwhile, BOV’s financial performance was negatively impacted by a €5.2 million impairment charge. Net operating income amounted to €360 million. On the expenditure side, operating costs rose by 15.6% to €175 million. BOV also recognised net profits of €7.0 million from its share of results of associates. Overall, BOV recorded a pre-tax profit of €192 million, which is 14.2% lower than the €224 million generated in the same period last year. After accounting for a tax charge of €64.7 million, BOV’s net profit for the first nine months of 2025 amounted to €127 million, which translates into an annualised return on average equity of 11.6%. BOV reported growth in both its customer loans (+€784 million) and customer deposits (+€577 million). Total equity increased by 2.9% (or €41 million) to €1.45 billion, which translates into a net asset value per share of €2.256 (31 December 2024: €2.192).

AX Real Estate plc held the €0.304 level on a single trade of 21,950 shares.

Also in the property sector, Malita Investments plc closed unchanged at the €0.436 level on one trade of 2,000 shares.

Meanwhile, GO plc increased by 1.6% to the €2.56 level on one deal of 872 shares.

MedservRegis plc surged by 23.7% to the €0.73 level on two trades amounting to 11,365 shares. However, the majority of today’s trading happened at the €0.59 level.

MIDI plc rose by 5.9% to the €0.18 level on two deals amounting to 12,750 shares.

On the other hand, Lombard Bank Malta plc declined by 0.8% to the €5.85 level over five trades amounting to 8,792 shares.

Also in the banking sector, HSBC Bank Malta plc shed 0.7% to the €1.42 level amounting to 5,495 shares. Yesterday, HSBC Bank Malta plc issued an Interim Directors’ Statement updating the market on its performance during the nine-month period ended 30 September 2025. The Bank explained that revenue decreased by €24.6 million or 13% when compared to the comparable period last year, reflecting the impact of a lower interest rate environment. Nonetheless, the Directors explained that growth was achieved across all other revenue lines. The financial performance of HSBC Malta was also boosted by the improvement in the credit quality of its loan book, resulting in a release of Expected Credit Losses (ECL) of €4.6 million, which however was lower than the release of €10.8 million in the same period last year. Operating expenses increased by 6% compared to the same period last year. The profit before tax for the first nine months of 2025 amounted to €82.5 million, which is 30% lower than the €118.0 million in pre-tax profits reported in the same period last year. HSBC Malta noted that net loans and advances to customers decreased marginally when compared to 31 December 2024, while customer deposits remained at the same level.

The ordinary shares of RS2 plc slumped by 13.8% to the €0.30 level on two deals totalling 2,325 shares.

Harvest Technologies plc plummeted by 7.1% to the €0.65 level over five trades amounting to 8,100 shares.

Malta International Airport plc moved 0.8% lower to the €5.85 level across five deals totalling 4,365 shares.

The RF MGS Index remained relatively unchanged at 915.497 points as investors await monetary policy updates, including an ECB meeting on Thursday and a decision from the Federal Reserve later today. The ECB is expected to leave interest rates unchanged and the Fed is expected to lower the federal funds rate by 25 basis points. Fresh data released today showed that the Spanish economy grew by 2.8% year-on-year in Q3 2025, lower than expectations of 3%. Elsewhere, copper futures rose to a record high on the London Metal Exchange amid persistent supply concerns and strong global demand.

 

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.