APS Bank has released its results for the first quarter of this year, indicating an uptick in revenues compared to the same period last year. Revenues and profits for the bank decreased in 2024 compared to 2023.
The total revenue announced by the bank is at €32 million with €29.6 million in interest income, up to €1.4 million and 4.9% higher than last year’s quarter, and €2.5 million in net fees commission. The bank does not seem to have disclosed its operating and trading income. The bank recorded a total operating expenses of up to €15.9 million, 18.1% and €2.4 million higher than the last year’s quarter, but it said that these costs include its bid to buy HSBC Malta (€1.1 million) and the costs of the Depositor Scheme (€1 million).
The bank also announced up to €4.2 billion in assets an increase of 1.6% reporting that it mainly came from an increase in its loan book by a total of around €54.2 million. The bank also claims to have up to €800 million and up to €381 million of its own funds including €345.9 million in bonds and fixed-income assets.
On the failed bid for HSBC Malta, the CEO said:
“Our announcement APSB84 of 17 April 2025 that we are exiting the bidding process for HSBC Bank Malta plc marks the end of a project for which the Bank was very well-prepared. We had accumulated financial resources, received strong shareholder and investor responses and lined up a business model, culture and vision that would have created benefits across the entire spectrum of both banks, and for the Maltese economy. As we move forward, we remain focused on growth, on achieving scale while actively looking at new strategic opportunities. We shall also build on our strong foundations and track record to continue delivering innovation, confidence and value to all our stakeholders.”
The CEO also applauded the bank’s results saying it had started the year with a strong performance.
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