Lombard Bank Malta plc Recommends Dividend for the Year Ended December 31, 2015 Payable May 6, 2016; Announces Preliminary Audited Group and Bank Earnings Results for the Financial Year Ended December 31, 2015
The company announced audited group and bank earnings results for the financial year ended December 31, 2015. On Group basis, the company reported consolidated net interest income of EUR 13,139,000 compared to EUR 14,306,000 a year ago. Net fee and commission income was EUR 3,207,000 compared to EUR 2,538,000 a year ago. Operating income was EUR 42,255,000 compared to EUR 40,236,000 a year ago. Profit before taxation was EUR 7,837,000 compared to EUR 6,240,000 a year ago. Profit attributable to the equity holders of the Bank was EUR 4,382,000 compared to EUR 3,362,000 a year ago. Earnings per share (EPS) were 10 cents compared to 7.7 cents for the same period a year ago. Net cash flows from operating activities were EUR 92,464,000 compared to EUR 96,097,000, a year ago. Purchase of property, plant and equipment was EUR 3,174,000 compared to EUR 2,210,000 a year ago. Post tax return on equity for 2015 was 5.1%, compared to 4.1% in 2014. Return on Assets (ROA) remained at 0.6%. Net asset value (NAV) per share stood at EUR 2.04 against EUR 1.99 a year ago.
For the year, the bank reported net interest income of EUR 12,957,000 compared to EUR 14,114,000 a year ago. Net fee and commission income was EUR 2,183,000 compared to EUR 1,601,000 a year ago. Operating income was EUR 18,204,000 compared to EUR 17,951,000 a year ago. Profit before taxation was EUR 5,973,000 compared to EUR 4,909,000 a year ago. Profit attributable to the equity holders of the bank was EUR 3,836,000 compared to EUR 3,059,000, a year ago. Net cash flows from operating activities were EUR 89,410,000 compared to EUR 96,199,000, a year ago. Purchase of property, plant and equipment was EUR 849,000 compared to EUR 344,000, a year ago.