APS

APS Bank registered a Group profit before tax of €3.8 million in Q1 2021, up from €2 million from the same period in 2020.

Commenting on the bank’s financial results, CEO Marcel Cassar said “Usually, our first quarter is the most challenging, this year especially so as the pandemic effects continue to bite.”

The CEO added “We are confident that our business model will endure and overcome the current uncertainty, yet the extent of the rebound of key sectors such as tourism is going to be critical even for the short-to-medium term economic recovery.”

During the same period under review, the Bank registered a pre-tax profit of €3.9 million, down from the €5.2 million registered in Q1 of 2020, as per Group and Bank unaudited financial statements presented at a recent meeting of the Board of Directors.

Mr Cassar stated, “As we experience a gradual pick-up in business sentiment, we shall maintain a prudent watch on credit underwriting and asset quality, mindful that pandemic-related developments will continue to shape the landscape for quite some time to come.”

Featured Image:

APS Bank / Facebook

Related

Jonathan Dalli

Jonathan Dalli pinpoints three questions CEOs need to ask themselves to attract young talent

27 March 2023
by Fabrizio Tabone

The Concept Stadium CEO highlighted the need for internal assessments to ensure the right focus is in place.

Mark Vassallo Cesareo dubs P71 vessel delivery a ‘wonderful and momentous milestone’

27 March 2023
by Fabrizio Tabone

The Viroc International Limited Managing Director thanked Cantiere Navale Vittoria and the Armed Forces of Malta for making his dream ...

Why Malta? ‘The question is more: why not Malta?’

25 March 2023
by Jo Caruana

GO CEO Nikhil Patil explains why expats can expect to feel ‘welcomed, celebrated, and totally at home’.

‘The Maltese have been extremely open and friendly’ – Iniala CEO Mark Weingard

24 March 2023
by Jo Caruana

He says investment is made easier since ‘you can, at any point, speak directly with the decision makers in government ...

Close Bitnami banner
Bitnami