Lombard Bank Malta p.l.c. announced preliminary audited group and bank earnings results for the financial year ended December 31, 2014. On Group basis, the company reported consolidated net interest income of EUR 14,306,000 compared to EUR 15,067,000 a year ago. The decrease resulted from the persisting low interest rate environment and keen competition in lending rates. Net fee and commission income was EUR 2,538,000 compared to EUR 2,326,000 a year ago. Operating income was EUR 40,236,000 compared to EUR 38,571,000 a year ago. Profit before taxation was EUR 6,240,000 compared to EUR 7,032,000 a year ago. Profit for the year was EUR 3,907,000 compared to EUR 4,482,000 a year ago. Profit attributable to the equity holders of the Bank was EUR 3,362,000 compared to EUR 4,094,000 a year ago. Group Earnings per Share (EPS) decreased by 1.7 cents to 8.1cents. Net cash flows from operating activities were EUR 96,097,000 compared to EUR 37,515,000, a year ago. Purchase of investments was EUR 11,982,000 compared to EUR 11,323,000 a year ago. Purchase of property, plant and equipment was EUR 2,210,000 compared to EUR 1,684,000 a year ago. Net Asset Value (NAV) per share stood at EUR 1.99 against EUR 2.00 in 2013. Return on assets (ROA) was down from 0.7% to 0.6% while post tax return on equity (ROE) was 4.1% against 5.2% in 2013.

For the year, the bank reported net interest income of EUR 14,114,000 compared to EUR 14,837,000 a year ago. Net fee and commission income was EUR 1,601,000 compared to EUR 1,378,000 a year ago. Operating income was EUR 17,951,000 compared to EUR 18,181,000 a year ago. Profit before taxation was EUR 4,909,000 compared to EUR 6,387,000 a year ago. Profit for the year was EUR 3,059,000 compared to EUR 4,111,000 a year ago. Profit attributable to the equity holders of the Bank was EUR 3,059,000 compared to EUR 4,111,000, a year ago. Net cash flows from operating activities were EUR 96,199,000 compared to EUR 35,499,000, a year ago. Purchase of investments was EUR 11,344,000 compared to EUR 10,683,000, a year ago. Purchase of property, plant and equipment was EUR 344,000 compared to EUR 586,000, a year ago.