Bank of Valletta’s results for the first nine months of this year have have come out weaker than last year as Bank announced a profit before tax of up to €192.1 million, 14% less than the €223.7 million it announced last year. It announced however that it has surpassed €16 billion in assets under its management with an increase of up to €1 billion from last year.
BOV has also posted better results earlier this year and it’s third quarter is presumably weaker than last year’s. BOV also had a record year in 2024 reporting a profit before tax of up to €302 million which was the highest in its recorded history.
The bank’s costs have increased by 15.6% up to €174.9 million with increased costs in salaries and wages and software. The bank’s cost-to-income ratio is currently at 47.9%. The bank’s return on equity ratio went from 22.5% to 17.5% compared to the same period of last year.
It expects to obtained a pre-tax profit of €215 – €250 million by the end of the year.
BOV is in process of issuing its €325 million bond issuance with the first tranche of €100-€125 million being issued soon, maturing between 2030 and 2035 at 5%. Apart from expanding its loan-book, BOV is making significant returns with its credit portfolio that is mostly composed of government bonds and US Treasuries.
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