HSBC Bank Malta p.l.c. Reports Audited Group and Bank Earnings Results for the Full Year Ended December 31, 2017
HSBC Bank Malta p.l.c. reported audited group and bank earnings results for the full year ended December 31, 2017. For the year, on group basis, net interest income was €120,660,000 compared to €126,427,000 a year ago. Net fee income was €22,735,000 compared to €23,752,000 a year ago. Total operating income was €235,252,000 compared to €244,879,000 a year ago. Net operating income was €163,857,000 compared to €164,512,000 a year ago. Profit before tax was €49,823,000 compared to €62,221,000 a year ago. Profit for the year was €30,855,000 or 8.6 cents per share compared to €40,213,000 or 11.2 cents per share a year ago. Net cash used in operating activities was €156,694,000 compared to net cash from operating activities of €16,105,000 a year ago. Purchase of property, plant and equipment, investment property and intangible assets was €2,999,000 compared to €990,000 a year ago. Adjusted return on equity for the year ended 31 December 2017 was 7.2% compared with 8.4% in 2016. Adjusted profit before tax, which excludes the effect of notable items, was €55.6 million, 9.5% down on 2016.
For the year, on bank basis, net interest income was €120,498,000 compared to €126,308,000 a year ago. Net fee income was €18,678,000 compared to €19,654,000 a year ago. Total operating income was €143,768,000 compared to €175,928,000 a year ago. Net operating income was €146,736,000 compared to €158,898,000 a year ago. Profit before tax was €40,879,000 compared to €63,834,000 a year ago. Profit for the year was €24,985,000 compared to €42,693,000 a year ago. Net cash used in operating activities was €75,290,000 compared to net cash from operating activities of €44,021,000 a year ago. Purchase of property, plant and equipment, investment property and intangible assets was €2,219,000 compared to €969,000 a year ago.