Issue link: https://maltatoday.uberflip.com/i/1510993
maltatoday | SUNDAY • 5 NOVEMBER 2023 9 COMMERCIAL Discover your glow with Carisma Aesthetics CARISMA Aesthetics, a distin- guished name in the realm of medical aesthetics with over 25 years of profound wellness ex- pertise, is thrilled to introduce a new chapter in advanced medi- cal aesthetics. Following months of dedicat- ed research and serving a select clientele, Carisma Aesthetics, a renowned Med Aesthetics Clinic in Malta, is delighted to open its doors to the public. The clinic is committed to enhancing natural beauty and rekindling self-assur- ance. Take a Quiz and find out the best treatments for your concerns Every individual's skin tells a unique story, whether it's the tale of fine lines and wrinkles, thin lips, concerns about volume and contour, or various other skin issues. At Carisma Aes- thetics, they are here to guide you on your journey to rejuve- nated, radiant skin. Their exclu- sive aesthetics quiz is designed to provide you with personal- ised solutions tailored to your specific needs, rekindling your confidence and unveiling your vibrant, true self. Explore the Perfect Aesthetic Solution Are you prepared to embark on a personalised voyage towards skin rejuvenation? Carisma Aesthetics offers an array of transformative med aesthetic treatments de- signed to address a multitude of skin concerns. Why Choose Carisma Aesthetics? With over two and a half decades of wellness expertise, Carisma Aesthetics is your ultimate choice for aesthetic needs. Our highly trained and medically qualified practitioners offer personalised treatments in a central, discreet location, designed to accommo- date your busy schedule. We pri- oritise your safety and confidence, delivering natural results through cutting-edge technology and per- sonalised plans. Choose Carisma Aesthetics and shine with confi- dence, knowing you've made the best choice. Aesthetic Excellence Anchored in 25+ Years of Wellness Experience, Supported by Dr. Angele Farrugia Dr. Angele Farrugia's remarka- ble journey is a testament to her unwavering dedication to the ever-evolving world of medical aesthetics. She has transitioned from a compassionate observer to a seasoned expert, amassing pro- found knowledge and invaluable experience. Dr. Farrugia's tireless pursuit of excellence has shaped her into the practitioner she is to- day, continuously expanding her expertise and honing her craft. Book Your Free Consultation Dedicated practitioners will at- tentively listen to your aesthetic aspirations during your consulta- tion. Using their expertise, they will create a customised treatment plan. Experienced medical practi- tioners will safely administer your chosen procedure, focusing on enhancing your natural features. It's a journey of rediscovering your natural beauty, and Carisma Aesthetics is here to guide you. BANK of Valletta Group continued to deliver robust financial performance in the third quarter of 2023 with strong net interest income and capital generation, alongside resilient asset quality. Profit be- fore tax for the nine months was €163.5 million compared with a loss before tax of €48.7 million, as restated, in the compar- ative period. The favourable performance for the first three quarters of 2023 was at- tributable mainly to the improvement in the Group's operating revenues totalling €315.9 million, a growth of €113.7 million or 56% compared with the same period in 2022 (9M 2022: €202.3 million). Net Interest Income continued to be the dominant catalyst with €253.8 million (9M 2022: €137.3 million), an increase of €116.5 million or 85% compared to the same period in the prior year. This was primarily driven by strong growth in the Bank's personal and business lending busi- ness with the loan portfolio exceeding the € 6 billion mark (December 2022: €5.6 bil- lion). In addition, improved returns from the Bank's treasury portfolio as well as the positive impact of higher rates of interest on the euro have equally contributed to the strong returns. Net Fees and Com- missions, Exchange and other revenues amounted to €62.1 million, down by €2.8 million or 4% (9M 2022: €65.0 million). Net commissions declined by €0.8 million, or 2% vis-à-vis the same period last year mostly due to the removal of deposit-re- lated fees to corporate customers and a persisting slowdown in investment-related commissions as a result of the continued volatility in the world's capital markets driven by the geopolitical tensions which is in turn dampening investor sentiment. Operating costs in the first three quarters of the year amounted to €139.0 million (9M 2022: €132.3 million) an increase of €6.7 million or 5% compared to the same period in 2022. Net Expected Credit Loss- es ('ECL') for the period to September 2023 was a net charge of €13.1 million (9M 2022: €10.1 million net charge). As at 30 September 2023, the ECL coverage for credit-impaired assets stood at 53.6% (December 2022: 53.8%) while the ratio of non-performing to the total credit portfo- lio stood at 4.0% (December 2022: 3.5%). An allocation of an additional €6.7 million was made in the first nine months of 2023 (9M 2022: €6.6 million) for the execution of strategic actions. The share of profit from insurance asso- ciates for the first three quarters of 2023 amounted to €6.4 million, aligned with the recently adopted IFRS 17 standard imple- mented by the associates (9M 2022: €1.5 million restated). BOV announces profit before tax of €163.5 million as at September 2023 The importance of innovation and collaboration in the growth of Fintech in Malta MASTERCARD has taken a leading role in fostering the expansion of the Fintech scene in Malta, as recently demonstrated at the 16th Annual Conference organized by FinanceMalta. The analysis present- ed there, not only scrutinizes the present condition of Malta's financial industry but also reveals a range of global developments that are reshaping the financial sector and identifies a series of strategic measures that have the potential to expedite the growth of Fintech in Malta. An insight into Malta's Fintech landscape A fundamental element of the study was the detailed mapping of Malta's Fintech sector, revealing a dynamic and rapidly evolving narrative. Throughout the analy- sis, five primary segments came to the fore- front: Government, Private Funding, Fi- nancial Institutions, Regulators, and other enablers. This approach helped Mastercard understand the various ways that different stakeholders contribute to the growth of the sector. Beyond this supportive ecosys- tem, Mastercard pinpointed pivotal sectors shaping Malta's financial landscape, in- cluding Blockchain and Crypto, Payments, Neobanking, Investment and Trading, and RegTech. FINTECH SUPPORTING ECOSYSTEM GOVERNMENT Government-backed entities supporting Fintechs REGULATORS Regulatory Authorities for Financial Services OTHER ENABLERS Accelerators, Incubators, Corporate Innovation programs FINANCIAL INSTITUTIONS Banks or other private financial institutions with strong established presence (Incumbents) PRIVATE FUNDING Malta-based Venture Capital firms (VCs), Angel Investors NUMBER OF KEY PLAYERS PER SEGMENT 17 BLOCKCHAIN & CRYPTO 26 PAYMENTS 4 NEOBANKING 6 INVESTMENT & TRADING 4 REGTECH SUPPORT METHODS ACCESS TO CAPITAL & EXPERTISE REGULATORY ENVIRONMENT & INFRASTRUCTURE TALENT ATTRACTION & DEVELOPMENT COLLABORATIONS & PROMOTION Financial Support & Grants Fostering Seed & Growth Private Funding Startup Accelerators & Incubators Information & Collaboration Platforms Regulatory Sandboxes FinTech friendly Regulatory Frameworks Digital Infrastructure Development Attract Foreign Talent Foster Domestic Talent Sources FinTech Events FinTech Bridges FINTECH LANDSCAPE IN MALTA Mastering Fintech in Malta: A study by Mastercard STRATEGY RECOMMENDATIONS GOVERNANCE SUPPORT EXTROVERSION FUNDING STRATEGY DOMAINS