It’s just the flipside to the international financial crisis: as banks abroad beg for government bailouts, in Malta it’s the government that reaps the dividends from the banks.
The government snatched an end-of-year windfall with the Bank of Valletta’s gross final dividend this year. With a 25.22% stake in the formerly nationalised bank, the government got a sizeable €2.26 million from a payout of €9 million.
The Bank of Valletta’s annual general conference this month approved a divided of €0.0675 per share. Taken together with the gross interim dividend of €0.1350 per share paid on 28 May, this makes for a total gross dividend of €0.2025 per share.
BOV reported a profit of €40.6 million for the financial year ended 31 September, reporting the largest ever deposit base for the bank, and also a record size and health of the loan book. The bank’s assets also increased by €544 million, while the deposit base grew by €322 million, bringing customer deposits up to a record €4.6 billion. Its €3 billion loan book also improved, with the proportion of non-performing loans down to just 4%.
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Artists, art critics and friends unanimously gather to remember the impact and value of Ebba von Fersen Balzan’s work and her strong connection with the Maltese islands
