Bank of Valletta continued posting record results ending 2024 with a 20% increase in profits compared to the previous year, according to its executive summary of its 2024 Annual Report. The Bank’s profit before tax in 2024 amounted to €302.4 million, up from €251.6 million in 2023, with a 10.1% increase in operating revenues.
BOV announced it will be increasing its float of shares by issuing one share per ten shares to each shareholder, along with a gross dividend of €0.2238 per share estimating its total dividend payout to €130.7 million. The bank also announced it will be issuing a further €250 million in bonds. BOV’s stock price is making consistent gains as the bank keeps posting record results. ‘
According to its report, the bank’s balance sheet expanded to €15 billion (67.1% of Malta’s GDP, and 107% of all other domestically-oriented banks taken together), while credit grew by €700 million during the year, with the Bank’s interest rates remaining among the lowest in the Euro area. However , the bank is forecasting profits for 2025 to at 2023 levels.
The bank’s cash decreased from €1.3 billion to €1.1 billion as the bank kept increasing its Treasury portfolio currently providing it with free cash in return.
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