by Bank of Valletta
FINANCIAL RESULTS FOR JANUARY TO SEPTEMBER 2022 ANNOUNCED
Bank of Valletta Group today announced the financial results for
January to September 2022, reporting a loss before tax for the year
to date amounting to €55.7 million. Excluding the effect of
the settlement of the Deiulemar claim in May this year, the
nine-month profit amounted to €47.8 million, up by 3% compared
to the same period last year.
The Bank reported continued growth in its core banking
activities, with its main income lines showing improved commercial
performance. Revenue for the first nine months of 2022 stood at
€202.3m. This constituted an improvement of 16.8%, reflecting
the increase in Eurozone interest rates coupled with a rise in
volumes in the retail sector, particularly in home financing,
cards, and payments.
