Watch: APS Bank registers record pre-tax profits

During 2018 APS Bank registered a record €19 million pre-tax profit. The information was given by the Bank’s CEO Marcel Cassar Thursday morning during the presentation of its 2018 results.

“APS is gaining market share”

Miguela Xuereb

In his presentation Cassar also spoke of the Bank’s other strong performance indicators which “attested to our ability at gaining market share and maximising on opportunities in a buoyant, yet competitive and demanding, environment”. He also referred to the recent conversion to ‘plc’, which signified the Bank’s clear vision and long term development plans also vis-à-vis capital requirements. Another announcement related to the launch of the digitally enhanced omni-channel solution ‘myAPS’ in the coming weeks.

Read: APS Bank completes the conversion to a Public Limited Company

The CEO of APS Bank told that the Bank’s vision is to become the bank of the Maltese community. The main values that APS Bank will endorse are excellence, authenticity, passion and inclusivity.

The presentation followed the Annual General Meeting.

New Strategic Plan

Chairman Mifsud Bonnici announced the approval by the General Meeting of a 1 for 12 Rights Issue which would be marking the first phase of a process that would support the Bank’s projected growth over the coming years. He also spoke about the new 2019-2021 Strategic Plan and how the vision to grow into an increasingly important bank for the Maltese system “places on us challenges as well as responsibilities”.

During the General Meeting the following directors were re-elected: Mr Frederick Mifsud Bonnici (Chairman), Mr Victor E Agius, Mr Franco Azzopardi, Dr Ing Joseph C Attard, Dr Laragh Cassar, Mr Alfred DeMarco, Mr Victor Gusman, Mr Michael Pace Ross and Mr Martin Scicluna.

Read: Tax rebate on new Pension Plans by APS Bank

APS Bank further enhances its core banking system