HSBC Bank Malta Performs Favourably and Focuses On Long Term Sustainability

HSBC Bank Malta has provided shareholders with an informational overview of the bank’s performance for 2011 as well as an update on the market and performance outlook for this year.

Malta company, HSBC Bank’s Chief Executive Officer Mark Watkinson explained while conducting a presentation to shareholders, how HSBC bank performed favourably in 2011 even during challenging market conditions. HSBC, an international Bank, recorded a profit of €88.3 million before tax which increased by 6.3 per cent, or €5.2 million, over the similar period in 2010.

Mark Watkinson also explained how HSBC Malta’s capital and liquidity position is strong and that they have a clear outline of their risks and costs. He has noted the impending challenges for the 2012 market but HSBC will continue to focus on improving productivity and cost effectiveness to ensure long-term business sustainability.

HSBC Bank’s Chief Financial Officer, Josephine Magri gave a detailed evaluation on the bank’s 2011 financial results, highlighting the banks positive performance. Magri also kept HSBC Malta Bank’s shareholders in the loop by providing information on the bank’s rankings in terms of Group’s key performance indicators, and HSBC Malta’s share highlights and performance.

Mr Watkinson explained how HSBC Bank vested much long term sustainability in Malta by de-risking its available-for-sale book, selling its card acquiring business, and optimising its branch network. A voluntary early retirement scheme was has also been created. A new €10 million computer banking system was created while the bank continued to roll out an €11 million upgrade of its branches and ATMs for further convenience.

Malta investments have always been an important economical factor in the country and HSBC Bank Malta has become a prominent banking force on the island nation with a favourable performance. Shareholders have approved the information presented and in the current challenging market climate, it seems HSBC Bank has performed positively.