Issue link: https://maltatoday.uberflip.com/i/1021976
18 COMMERCIAL maltatoday | SUNDAY • 2 SEPTEMBER 2018 FIMBank meets professional stakeholders FIMBANK recently hosted a meeting with professional stake- holders to discuss the Bank's in- terim financial results for 2018. The meeting revolved around the key developments at FIM- Bank, including its interim after- tax profit of USD 6.1 million for the first six months of 2018, an increase of 47 per cent on the USD 4.1 million registered dur- ing the same period in 2017. During his opening speech, FIMBank Group Chairman Dr John C. Grech referred to the Rights Issue announced in March, which he referred to as a 'significant milestone' in the Group's development. He stated that the raising of additional equity amounting to USD 105 million in the second quarter of 2018, "was a statement of stra- tegic intent, taking the Group's capital strength to a superior lev- el, and unlocking the potential for further growth." Looking towards the future with optimism, Dr Grech reinforced that the turnaround is over, a strong indicator that FIMBank is now in growth mode, and that the results obtained recently show an acceleration of performance on the bottom line, a process that is expected to continue. FIMBank's CEO, Murali Subramanian, elab- orated on FIMBank's strategy, explaining that this is founded on the "core pillars of client origina- tion and delivery, product evolu- tion, funding efficiency, and risk and governance stability." Mr Subramanian added that "Consistent planning, hard work, and perseverance, have contrib- uted to our stable performance and the creation of a sustainable platform for further success." The Group's Chief Financial Officer, Ronald Mizzi, provided a detailed overview of FIMBank's financial results, highlighting amongst others the salient milestones and issues which marked the Group's financial performance during the first six months of the year, whilst analysing the trends relating to the main key performance ratios. In this regard, he concluded that "the Group recorded positive re- sults across the main key areas, with assets growing compared to last year, revenue increasing, as- set quality improving, and costs being managed adequately across all businesses. This was support- ed by the new capital injected earlier in the year, enabling FIM- Bank to achieve the objectives set for 2018 and beyond." MAPFRE Group ranks among best for its focus on corporate social responsibility THE MAPFRE Group has ranked among the top 10 com- panies that focus their efforts on Corporate Social Responsibility, while its chairman and CEO, Antonio Huertas, ranked among the five most highly recognized Spanish Business Leaders in Corporate Social Responsibility. This is according to a research by the consulting company Ad- vice Strategic Consultants. In Malta, MAPFRE is represented by MAPFRE Middlesea and MAPFRE MSV Life. The consultation, conducted by means of 370 expert interviews, focused on a number of sub- jects related to Corporate Social Responsibility. These included fight against child poverty and in developing countries, promoting employment among vulnerable groups, volunteering, facilitating access to housing, supporting the dissemination of art and culture, care for people suffering from advanced illnesses, providing im- petus to entrepreneurs and digi- tal integration to promote equal opportunities. The experts advised that most major companies have potential to improve their position when it comes to promotion of art and culture, supporting volunteering activities and promoting entre- preneurial skills. MAPFRE, which ranked among the top 10, is a company fully committed to sustainable development in the countries in which it operates, supporting its social and economic progress. The Volunteering Corporate Programme and, in particular, Fundación MAPFRE, are essen- tial assets in achieving this goal. In the past decade, Fundación MAPFRE has invested 500 mil- lion euros in projects targeting society in 30 countries, which have benefited more than 100 million people. What does KTM stand for? KRONREIF Trunkenpolz Mat- tighofen - KTM, are known the world over for their mot- orsports dominance, their ex- cellence of motorbike manu- facturing, and of course their district orange, black and silver colors. Within motorsports the unique character, power and prestige of the KTM brand is very well known to both their fans and competitors around the world. The Austrian motorcycle man- ufacturers can trace their history to humble beginnings. Their original foundations date back to 1934, When Hans Trunk- enpolz opened a workshop in Mattighofen, naming his com- pany 'Kraftfahrzeug Trunken- polz Mattighofen'. Through op- portunities to work and supply motorbikes over the years KTM expanded, and began to attract a lot of attention, particularly from Ernst Kronreif. Fascinated by the work being done at KTM, the business and motorcyclist enthu- siast became a sizable sharehold- er in the company, which then immortalized this commitment by changing its name into the now famous 'Kronreif Trunken- polz Mattighofen'. In 1951 the first or many major development into motorcycling production by the company be- gan – a light motorcycle known as the R100. At the time, KTM could assemble only 3 bikes per day. The company's curiosity in- to the racing scene began around this time, by quickly settling into their high standards coming 1st 2nd and 3rd in the 5th Gaisberg Competition. Over the next few decades, KTM made a name for themselves by producing fantas- tic bikes, winning uncountable races, and continually innovating and expanding the motorcycle industry. KTM's presence in the world of motorsports is still today being felt more than ever. The Austrian company has won more than 270 world championship titles, and secured itself as the most suc- cessful brands in motorsports. The Austrian company has also claimed 96 MXGP, MX1 and MX2 world titles since 1974 and 114 E1, E2, E3 and Super Enduro world titles since 1990. KTM also compete in the Dakar Rally, a very popular annual off road endurance event, successfully dominating the sport since 2001, the last 17 winners have all rid- den for KTM. KTM's need to be the best has also become a philosophy adapted by their production team. The company boasts an impressive selection of off road bikes, and street bikes. By pro- ducing some of the best bikes available on the market, such as the naked 'KTM 790 DUKE' and supersport 'KTM RC390', KTM are able to silence even their harshest of critiques. By looking to the future KTM has also been able to invest in revolutionary sports cars as well as electric bikes, most re- cently the 'KTM FREERIDE E- XC 2018'. "It's very different," said the professional motorcy- cle title winner Blazusiak "It's still performing well, it's still going fast, it still brakes like a dirt bike, it still rides hard, but you can't hear it. It's definitely a new era." With their designs incorpo- rating the brands philosophy to be the best, as well as being splashed over by the unmistak- able orange, black and silver paintjob, anyone who's anyone will always be able to recognize and appreciate the ride.