Issue link: https://maltatoday.uberflip.com/i/1524836
maltatoday | SUNDAY • 4 AUGUST 2024 6 COMMERCIAL MCAST launches the 2nd edition of the KampuSajf 2024 programme THE Malta College of Arts, Sci- ence, and Technology (MCAST) has just launched the programme for the 2nd edition of the Kam- puSajf Festival, which will take place from 23 to 28 August 2024, both days included. The Festival is powered by APS Bank and is under the artistic direction of St- janu Debono. KampuSajf 2024 is a summer festival and an immersive celebration of artistic diversity that showcases local creative artists' projects. The programme focus- es on Malta's grassroots, empha- sising creations by artists within the local artistic community. This multidisciplinary performance platform will prioritise indigenous artistic work in Malta. It will serve as an alternative platform to dif- ferent art forms, including music, literature, contemporary dance, theatre, and animated film. The College strives to open its campus to the public while sup- porting the culture and creative arts, particularly emerging art- ists, that form an integral part of MCAST's ethos and alumni com- munity. The Festival's first two days will be held at the amphithe- atre in Mosta, behind the MCAST Campus. The last three days will be held at the MCAST Campus in Paola, in a serene space that cre- ates an atmosphere of creativity and inspiration during summer nights. The programme of events in- cludes the following: • A multi-disciplinary project titled 'Dizzjunarju tal-Maħ- bubin', with the participa- tion of Martina Georgina, Klonn and Hearts Beating in Time, written by Jien_a and published on Aphro- confuso. • A music production by Te- atru Malta titled 'Teatru Malta Hit Parade', by Albert Garzia Trio, Justin Galea and Charlotte Formosa featuring Claire Tonna and Il-Lapes • A production blending music and theatre aspects titled 'Karmaġenn', by Kar- maġenn and Chewing Pro- ductions. • A film production titled 'Animation Showcase Mal- ta', an animation showcase of different short animated movies from Malta-based animators, covering differ- ent animation genres. This event will also include a se- lection of works of MCAST students following courses at the Institute for the Cre- ative Arts (ICA). • A music performance ex- ploring Malta's diverse musical heritage by Mari- ele Zammit Kwartett, with Mariele Zammit on vocals, Warren Galea on guitar, and Oliver Degabriele on bass. KampuSajf is open to the gen- eral public, enabling attendees to familiarise themselves with the College and experience an eclectic programme of events. KampuSajf 2024 is being organised in collabo- ration with POPP and is support- ed by Heritage Malta. Interested individuals are invited to visit MCAST's social media platforms and website for more information. Tickets can be purchased from https://shop. trackagescheme.com/event/kam- pusajf-2024/ IN celebrating its 50th anniver- sary, Bank of Valletta is proud to announce its collaboration with Din l-Art Ħelwa (DLĦ) to re- store the historic Church of San Ċir, located in the limits of Rabat below Mtarfa. This partnership marks a significant milestone in the conservation of one of Mal- ta's oldest and most treasured medieval Churchs, believed to have been built between 1450 and 1500. This was announced during a visit paid by Kenneth Farrugia, the Bank's CEO. Accompanied by Ernest Agius, Chief Operations Officer, and Charles Azzopardi, Head CSR & Events, Mr Farrugia was met and shown around by Mr Patrick Calleja, President of the NGO DLĦ. Preserving a National Treasure The Church of San Ċir, nestled within the magisterial estate of Ġnien is-Sultan, stands as a re- markable testament to Malta's rich heritage. With its unique pitched roof, the Church has largely remained unchanged over centuries, adding considerable value to its historical significance. Despite its varied uses over the years, including as a cow shed, the Church has stood the test of time. Kenneth Farrugia expressed his satisfaction in supporting this vital conservation project. "This initia- tive aligns perfectly with the Her- itage arm of our Corporate Social Responsibility (CSR) program. For fifty years, the community has supported us, and it is extra spe- cial to give back by preserving this gem of our heritage during our anniversary year." This partnership ensures that the Church of San Ċir will contin- ue to be a treasured landmark for future generations. The restora- tion project is set to begin shortly with both organisations, commit- ted to preserving Malta's national heritage. Bank Of Valletta Partners with Din L-Art Ħelwa to restore Malta's oldest medieval church HSBC Bank Malta reports record profits for 2024 interim results HSBC Bank Malta reported re- cord half year profits reflecting revenue growth, investment in people and technology as well as strong credit quality of the loan book. A record profit per- formance of €78.6m in the first half of the year has enabled us to continue the trend of rewarding our shareholders with the highest interim dividend over the last 10 years. The Directors are recom- mending a gross interim dividend of 10 cents per share. Financial performance • Profit before tax increased by €19.3m to €78.6m, main- ly driven by an increase in revenue due to the higher interest rate environment and higher credit recovery which was partially offset by higher costs as the bank continued to invest. • Revenue increased by €21.5m or 20% driven by rising interest rates and a 34% increase in trading income. Progress was also reported in net fee income and income from the insur- ance subsidiary. • A release of €7.0m was re- ported on expected credit losses ('ECL') in view of curing of non-performing loans and releases of over- lays held by the bank in re- lation to inflationary pres- sures. • Costs are €6.6m higher than the same period in 2023. This increase was largely driven by the investment in people, technology as well as the new headquarters in Qormi, 'HSBC Hub'. • During the first six months, loans to customers and de- posits were slightly lower than those reported at 31 December 2023. • Profit attributable to share- holders of €50.7m for the six months ended 30 June 2024 resulted in earnings per share of 14.1 cents which compared favourably with 10.7 cents in the same period in 2023. • An interim gross dividend of 10 cents per share is be- ing recommended. • Return on equity of 18.3% for the six months ended 30 June 2024 compared fa- vourably with 16.2% for the same period in 2023. • Cost efficiency ratio ('CER') improved to 43.9% from 46.6% in the same period last year as the increase in revenue outweighed the in- crease in costs. • The bank maintained a strong liquidity and capital position as at 30 June 2024, with a Liquidity Coverage Ratio of 552% and Tier 1 Capital of 21.1%. Financial performance Profit before tax for the six months ended 30 June 2024 was €78.6m, an increase of €19.3m from the same period in 2023. Higher profits reflect an im- provement in all revenue lines as well as a higher recovery of expected credit losses ('ECL'). These positive variances were partially offset by higher costs as the bank continued to invest. Net interest income ('NII') in- creased by €17.0m to €106.6m compared with €89.7m in the same period in 2023. The in- crease in NII was driven by the higher interest environment as the average interest rates in H1 2024 were higher than those prevailing in H1 2023. Non-funds income (fees and commissions and trading in- come) increased by €1.3m re- flecting a rise in both trading and new fee income. ww