19th Nov 2007 09:00
HSBC Holdings PLC19 November 2007 HSBC BANK MALTA PLC INTERIM DIRECTORS' STATEMENT HSBC Bank Malta plc (HSBC Malta) is required to publish the following InterimDirectors' Statement covering the period from 1 July 2007 to 31 October 2007under Listing Rules 9.51 and 9.53 of the Malta Financial Services Authority. HSBC Malta has maintained good business growth to date in 2007, continuing thepositive profit and balance sheet trends reported in its first half 2007 resultsas reported in the Company Announcement of 30 July 2007. As at 31 October 2007 both customers' deposits and customers' loans increasedstrongly over the prior October end, whilst maintaining a steady and stableloans to deposits ratio. The core income and profitability levels disclosed inthe first half 2007 results were sustained during this financial period. Therewas no deterioration in the quality of credit lending whilst liquidity andsolvency indicators remained sound and ahead of regulatory levels. During the third quarter, work on major projects has progressed well,including the adoption of the euro, implementation of SEPA, Basel 2 and 'Chipand Pin' card functionality. HSBC Malta continued to work on client-focused initiatives, which improvecustomer experience and satisfaction, and on operational processes. The HSBC Group'ssecond generation Personal Internet Banking and Business Internet Bankingfacilities were launched in August improving Direct Channels and making iteasier, and more convenient for customers. In September, as a further part of the HSBC Group's initiative to 'join up' theorganisation, HSBC Malta participated in the first global product launch by HSBC- Global Premier - for its high value clients. In addition, HSBC Malta hasutilised the HSBC Group's technology platforms to launch HSBCnet and GlobalLinks systems for Institutional and Corporate customers to help them withinternational business. Shaun Wallis, Director and Chief Executive Officer, HSBC Bank Malta plc,commented: "The Bank continues to deliver on our strategy of building sustainable growth byfocusing on our main customer groups - putting them at the centre of everythingwe do. By leveraging the HSBC Group's global expertise, we have increasedbusiness efficiency to support our increased client base and business volumes,and to reduce our unit costs. "HSBC Malta has a conservative balance sheet policy with relatively minimalfunding from the wholesale markets, and minimal investment in non-governmentsecurities. Consequently, the uncertainty that has affected internationalmarkets over recent months has had no material impact on our business. "We remain confident that we can continue to grow the business and revenues andin a sustainable manner through the remainder of this year." Notes to editors: 1: This statement is based on the unaudited management accounts of HSBC BankMalta plc from 1 July 2007 through 31 October 2007 and other financialinformation. 2: HSBC Holdings plcHSBC Holdings plc serves over 125 million customers worldwide through around10,000 offices in 83 countries and territories in Europe, the Asia-Pacificregion, the Americas, the Middle East and Africa. With assets of some US$2,150billion at 30 June 2007, HSBC is one of the world's largest banking andfinancial services organisations. HSBC is marketed worldwide as 'the world'slocal bank'. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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