Bank of Valletta has announced a profit before tax of €163.5 million as at September 2023 when compared with a loss before tax of €48.7 million for the same period last year.

BOV Chairman Dr Gordon Cordina has expressed his satisfaction on the announcement of the BOV Group performance for the first nine months of the year.

The Bank said that the favourable performance for the first three quarters of 2023 was attributable mainly to the improvement in the Group’s operating revenues totalling €315.9 million, a growth of €113.7 million or 56% compared with the same period in 2022 (9M 2022: €202.3 million).

Speaking about the positive results obtained by the BOV Group as at end September 2023, Kenneth Farrugia, Bank of Valletta CEO stated, “the performance we are announcing today is the result of a number of factors. We have seen an improvement in the Group’s operating revenues, strong net interest income and capital generation, growth in customer lending and proprietary investment portfolios, alongside resilient asset quality.”

The Bank said that it remains committed to its Environmental, Social and Governance ESG goals, consciously integrating ESG considerations into its business decisions and is working towards creating a more sustainable, inclusive, and responsible banking model.

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