HSBC Bank Malta plc – Approval of interim financial statements and declaration of interim dividend

July 30, 2010

HSBC Bank Malta plc announced that in a meeting of July 30, 2010, the Board of Directors approved the Group and Bank Interim Unaudited Financial Statements for the six-month period ended June 30, 2010.

The Group’s profit before tax rose by 21.4% for the first six months of 2010, from €34.76 million to €42.19 million. Total Operating Income increased to €125.95 million, a rise of 32% for the period. The Directors commented that the rise in profits was “substantially driven by an improved level of revenues while keeping costs flat.” In fact, Operating Expenses remained the same at €40.8 million in these first six months.

Alan Richards, Director and Chief Executive Officer of HSBC Bank Malta plc, said that “we are encouraged by the bank’s strong performance during the first half of 2010. After a period of negative GDP growth, the local economy is showing clear signs of stability and we anticipate continued growth in the foreseeable future. However, challenges within the international economy remain and the broader Eurozone recovery is at best fragile, as the recent sovereign bond crisis has highlighted. We have made good progress during these six months and we continue to emphasise our competitive advantage as an international bank. We remain well capitalised, liquid and very much open for business.”

Earnings per share for the period rose to €0.094 from €0.077 registered in 2009.

The Board also declared a gross dividend of €0.079 per share (€0.051 net of tax), which will be paid on August 24, 2010, to shareholders who are on the bank’s register of shareholders as at August 10, 2010.

To view the Interim Financial Statements, Click Here.