‘Changes in local banking landscape opening up new space’ – Marcel Cassar, APS CEO

APS Bank CEO Marcel Cassar said that shifts in the local banking landscape are opening new opportunities, requiring the bank to “meet the demands and expectations of our expanding customer base.”

Mr Cassar made the comments in connection with the bank’s €45 million rights issue, which will see two entities – the Archdiocese of Malta through AROM Holdings Limited and the Diocese of Gozo – dilute their stakes in APS Bank.

The CEO described this moment as “another important stage in strengthening our Bank’s equity base and stepping up our strategic growth,” adding that “it cannot be coming at a better time.”

Speaking about the capital-raising initiative, Mr Cassar highlighted that the additional funds would allow APS Bank to expand lending capacity, invest further in technology and innovation, and deepen customer relationships across key markets.  

The CEO also noted that the bank’s third quarter has been “one of the strongest to date,” with rebounding revenues and profitability, which the bank expects to accelerate further in the fourth quarter.

He emphasised that the rights issue is “not just a financial milestone” but a “launchpad for the next chapter of our success story,” thanking the bank’s shareholders for their continued support.

AROM Holdings Limited and the Diocese of Gozo currently hold 54.67 per cent and 12.52 per cent of the bank’s issued share capital respectively.

They are not expected to subscribe to their rights in any material way. As a result, their ownership will be diluted, with AROM Holdings likely to fall below the 50 per cent threshold.

This move follows the trend set during the bank’s 2022 Initial Public Offering (IPO), when the two qualifying shareholders began reducing their concentration, opening the way for over 3,300 new shareholders and a free float of about 30 per cent.

Interested parties with a minimum investment of €500,000 have until 22nd September 2025 – just one week away – to express their interest.

The bank is currently in the advanced stages of obtaining regulatory approval from the Malta Financial Services Authority, with the prospectus expected to be published in the second half of October. The rights issue process, including the listing of new ordinary shares, is expected to be completed by the end of 2025.