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13 maltatoday | SUNDAY • 15 AUGUST 2021 COMMERCIAL MeDirect Bank continues its accelerated transformation into a leading retail WealthTech banking platform DURING 2021, MeDirect Group continued to accelerate its investment programme to build its highly customer centric app combining a broad range of investment services seamlessly integrated with daily banking functionality. The Group's technology plat- form has been undergoing an impressive transformation for over the past two years, by lev- eraging on a unique flexible and scalable technologies along with the objective of delivering best-in-class user experience to support its mission of mak- ing digital investment simple, inclusive and empowering for all. Later this year, the Group will launch exciting new func- tionality to its website, mobile app and other customer touch points. In the first six months of 2021, MeDirect Group con- tinued to implement its balance sheet diversification by actively planning the launch of its fu- ture Belgium residential mort- gage business line and by suc- cessfully launching the home loan business in Malta earlier in 2021. In addition, the Group continued to achieve positive growth in business volumes in jurisdictions in which it oper- ates. In fact, over the past 12 months, total clients in Bel- gium and Malta increased by 15 per cent to 83,000, leading to a 31 per cent increase in as- sets under management with an all-time high of Eur0.8 bil- lion (44 per cent increase) in Belgium and Eur0.6 billion (18 per cent increase) in Malta. Over the past twelve months, the Dutch residential mortgage origination volumes grew by Eur1.0 billion (168 per cent in- crease) and corporate lending in Malta increased by 25 per cent to Eur108.4 million as the Group continued to support the local economy. By starting to benefit from a more diversi- fied business model and given the improving credit outlook, the Group achieved a promis- ing performance in the first half of 2021 as profit before tax was Eur3.2 million compared to a significant loss last year driven by prudent provisioning to re- flect the impact of COVID-19. MeDirect Group continued de-risking its international corporate lending portfolio such that, since the beginning of the financial year, the gross size of the portfolio has been reduced by 24 per cent from Eur903.4 million to Eur691.1 million and by 46 per cent over the last twelve months. The gross outstanding balanc- es of the Dutch mortgage book grew by 32 per cent through- out this financial period and as at 30 June 2021 amounted to Eur1.6 billion. Total fund- ing increased as a result of the funding from the Dutch mortgage securitisation trans- actions that increased from Eur348.2 million to Eur682.6 million. The Group's liquidi- ty remained robust, and capi- tal ratios remained well above minimum requirements. The total capital ratio remained high at 19.3 per cent as at 30 June 2021. MeDirect Group's liquidity reserves remained strong at Eur601 million as at 30 June 2021, and the Group's LCR stood at 625 per cent. Third edition of The Transport Malta Quarterly published THE third edition of T-21: The Transport Malta Quarterly has been published. T-21 is a pub- lication launched this year by Transport Malta to inform the public about the Authority's lat- est initiatives, projects, and pol- icies, as well as to provide use- ful information to the general public on a number of services offered by Transport Malta. Since the third edition of T-21 is being published in the midst of summer, it rightfully focuses strongly on the Maritime In- dustry. The content regarding the Ports Commercial Unit focuses on the sec- tor of small ships, and a few other ar- ticles focus on the Maritime Enforce- ment Unit and its ongoing work and safety training. The Maritime Enforce- ment Unit launched three new RHIBs last month, which make it easier to carry out its duties more efficiently, and all of this can be further explored in this publication. The app which helps these Enforcement Officers stream- line their work is also featured. The ongoing Grand Harbour Clean-Up project continues to be present in the T-21 publica- tion, along with the scuttling of the P-33. With the Fast Ferry launch happening not too long ago, it was of utmost importance to feature it in this publica- tion. The service itself as well as other services of connectiv- ity are featured and explained in detail, for the benefit of the general public. The emissions from ships which are used for the transport of goods and how they are being tackled is also another topic which is featured, as well as the overall Maritime Industry and its ben- efit to Malta. THE Concept Stadium has con- tinued to invest in its Digital, Social Media and PR teams by welcoming two new members to their local boutique market- ing consultancy company. Al- ice Battistino and Kyle Mintoff both started off as interns, gain- ing experience whilst continu- ing their studies. Following their experience with The Concept Stadium, they have both become an inte- gral part of the growing Com- mercial Creatives team. Welcoming Kyle and Alice to the team is Jonathan Dal- li, Founder and CEO of The Concept Stadium. He com- mented, "We are passionate about offering opportunities to students wishing to gain expe- rience whilst studying. Nurtur- ing growth in the workplace is an integral part of long-lasting and fruitful relationships with our team and we are adamant in continuing to recruit Com- mercial Creatives who are ea- ger to grow with us." The Concept Stadium welcomes two new team members