BOV and APS register further growth in loans and deposits

The MSE Equity Price Index fell by 0.33% to 3,807.012 points as the declines in APS, BOV, Harvest and IHI outweighed the gains in BMIT, MIA and MaltaPost. Meanwhile, two other equities closed unchanged as today’s trading activity amounted to €0.22 million. Download today’s Equity Market Summary.

Bank of Valletta plc shed 1.1% to the €1.86 level across sixteen deals totalling 61,829 shares. Today, BOV published its interim financial statements covering the six-month period ended 30 June 2025. Net interest income fell 2.5% to €189 million (H1 2024: €194 million), while non-interest income surged 39.4% to €55.3 million, including a one-off gain of €6.4 million. Total operating income hit a record €244.0 million (+4.6%) whilst operating expenses rose 23.2% to €116.9 million. A net impairment release of €3.3 million also supported the Bank’s financial performance. Profit before tax decreased 8.8% to €135 million, and net profit amounted to €89.5 million (ROE 12.9%). Total equity increased by 2.8% to €1.45 billion, translating to a NAV per share of €2.253 (Dec 2024 adjusted: €2.192). The board declared a net interim dividend of €0.0556 per share, payable on 2 September 2025 to shareholders as at 14 August 2025. BOV reported an improved full-year pre-tax profit guidance for the current financial year in the range of €215 million to €250 million. BOV confirmed that its non-cancellable share buyback programme will commence on 18 August 2025 and announced plans for a €325 million Euro Medium Term Note Programme to strengthen its capital base and meet MREL requirements.

Also in the banking sector, APS Bank plc fell by 2.8% to the €0.525 level over eight trades amounting to 83,113 shares. Today, APS Bank plc published its interim financial statements covering the six-month period ended 30 June 2025. Net interest income rose 7.5% to €35.6 million, while non-interest income fell 4.0% to €5.1 million. Meanwhile, total operating costs increased by 17.0% to €31.6 million which hindered performance along with a net impairment loss of €0.45 million. Overall, profit before tax declined by 9.6% to €9.14 million. Net profit attributable to shareholders fell to €4.87 million equating to a 3.3% annualised ROE. The board declared a net interim dividend of €1.8 million (H1 2024: €2.0 million), which is equivalent to €0.00472 per share. This cash dividend is payable to all shareholders as at close of trading on 28 August 2025, and subject to regulatory approval, it will be paid on 19 September 2025. The Bank indicated that it plans to undertake a rights issue in the last quarter of this calendar year.

Harvest Technologies plc decreased by 1.3% to the €0.74 level on a single deal of 9,810 shares.

International Hotel Investments plc declined by 0.9% to the €0.43 level on two trades amounting to 3,389 shares.

On the other hand, BMIT Technologies plc surged by 3.4% to the €0.30 level over three deals totalling 105,787 shares. BMIT will publish its interim results on Tuesday 5 August.

A single deal of 670 shares pushed the share price of Malta International Airport plc 0.8% higher to the €6.00 level. MIA will publish its interim results on Tuesday 5 August.

MaltaPost plc moved 0.5% higher to the €0.422 level albeit over trivial volumes.

Meanwhile, GO plc closed unchanged at the €2.74 level across four trades amounting to 5,280 shares. GO will publish its interim results on Thursday 7 August.

Simonds Farsons Cisk plc held on to the €6.25 level on minimal activity.

Today, PG plc announced that one of its subsidiaries PG Finance Limited acquired a showroom known as ‘S&S Bathrooms’ with a frontage on Mosta Road, Lija, together with the surrounding land, which in all encompass an area of circa 13,100 square metres. The consideration amounts to €19 million of which €6 million has been paid on the date of entry into the deed, and the remaining balance will be paid in twelve instalments over a period of seventy-two months.

The RF MGS Index rose by 0.06% to 910.084 points. Yesterday the Federal Reserve opted to maintain interest rates at 4.25%–4.50% for the fifth consecutive meeting. Notably, two of the twelve voting members favoured a rate cut. The decision was driven by persistently elevated inflation and an uncertain economic outlook particularly amidst concerns over trade tariffs. Furthermore, robust labour market conditions and stronger-than-expected U.S. economic growth offers the Fed additional justification to hold its Federal Funds Rate steady. Following the meeting, Chair Jerome Powell emphasized that it is too early to determine the policy direction for September’s meeting and reiterated that future decisions will remain data driven.

 

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.