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
MBA Chairman urges closer collaboration between banks, telecoms, and law enforcement
Kenneth Farrugia noted the shift to digital banking and rising sophistication of fraudsters.
Former Arts Council Chairman: €4.5 million invested in ‘Malta’s cultural footprint’
Albert Marshall addresses Art Council Malta’s annual report, praising the body's effort to herald local artists.
‘Protecting people is at the heart of what we do’: FIAU Director reflects on a year of enforcement, innovation, and collaboration
'At its core, the FIAU’s work is about protecting people.'
How a life-altering diagnosis reshaped one Senior Manager’s outlook
'Work will always be there, but your body carries you through it all.'
