Issue link: https://maltatoday.uberflip.com/i/1538131
7 maltatoday | SUNDAY • 3 AUGUST 2025 COMMERCIAL BOV posts profit before tax of €135.1 million for first six months of 2025 BANK of Valletta today an- nounced a positive, sustained financial performance for the first half of 2025, declaring a profit before tax for the BOV Group of €135.1 million. This result reflects the Group's con- tinued resilience and strategic progress, laying a strong foun- dation for further growth and innovation in the months ahead. The Bank also declared an inter- im gross dividend of €55 million (€0.0856 gross/€0.0556 net per share) to be paid to sharehold- ers from the Group's six-month profits, reflecting a 39.9% pay- out ratio of Profit After Tax. The Bank has also set aside €7.8 million as a share buyback re- serve, as approved by the latest AGM and by the regulator. The Group has seen noticeable growth from key business areas, including credit, investments, and fee and commission in- come. Expectations for the cur- rent financial year continue to trend towards a profit before tax between €215 million and €250 million, with dividend distribu- tions set around a maximum of 50% of profits. Financial Highlights As expected, the first half of 2025 saw a decline in profit be- fore tax of 8.8% when compared to the previous year, aligning with forward looking guidance provided at the end of FY2024 and driven mainly by a lower in- terest rate environment and the Bank's increased investment in technology and people. Total operating income reached €244 million in June 2025, marking a solid increase of 4.6% compared to the same period in 2024. Net Interest Income remained the primary driving force for the Group. The overall decline in interest rates announced by the ECB was par- tially cushioned by an increase in interest income generated from proprietary investments (reflecting the strategic balance sheet repositioning carried out by the Bank since 2022), and al- so by a sustained growth in the credit portfolio. On the other hand, Net Fee and Commis- sion Income continues to play a vital role in the Bank's in- come streams, contributing to well-diversified revenue flows that continue to support the Group's operating profitability. The Group's total assets con- tinued to expand, reaching €15.9 billion. The optimisation of the balance sheet continued, with cash and short-term funds declining by a further €79.7 mil- lion and the treasury portfolio increasing to reach a balance sheet position of €6.7 billion. The credit portfolio increased by 7.9% to €7.4 billion, and cus- tomer deposits saw a continu- ous growth with the closing bal- ance as at end of June of €13.1 billion. The Group's capital and liquidity ratios remained strong and above regulatory require- ments. CONCEPT Stadium, a leading creative agency and marketing advisory hub, is marking a special milestone as Chief Op- erations Officer Claude Mifsud celebrates ten years with the Malta-based outfit. Since joining in 2015 as a Web Developer, Claude has been instrumental in strength- ening the company's tech, web and digital capabilities as well as the organisation's operational structure. He began his journey focused on building websites and managing hosting infrastruc- ture, gradually taking on wider responsi- bilities as he progressed through various roles. His work has contributed to the crea- tive agency's shift from basic web builds to complex e-commerce platforms, including one that received the Best E-Commerce Website Award by Tech.mt back in 2020. Looking back, Claude said he was drawn to the Concept Stadium by the opportuni- ty to combine creativity with technology. He reflected on the team's collaborative spirit and shared passion for quality as key to what continues to make Concept Stadi- um a rewarding place to work. "What attracted me to Concept Stadium was the chance to create digital experienc- es that were not only functional but also imaginative. A decade later, I'm proud of how far we've come and flourished. The team has grown in both capability, exper- tise, and mindset, and I look forward to continuing this journey by embracing new technologies, automation and data-led solutions," said Claude. In his current role as Chief Operations Officer, Claude has introduced systems and workflows that support both creative output and business performance. He is known for his calm, solution-focused lead- ership style, which encourages open com- munication and empowers team members to take ownership of their outputs. Claude's focus moving forward is on scal- ing operations sustainably, strengthening internal leadership, and driving innovation without losing the Concept Stadium's cre- ative spirit and its commitment to clients. Concept Stadium is currently growing its team and has a Tech & Web Develop- er vacancy available. Those interested in applying can view the open role at https:// conceptstadium.com/life-at Concept Stadium's COO reflects on 10-year journey Gozo to host two-part celebration of Ceramic Art this August THIS August, Gozo will come alive with colour, creativity, and cultural expression, as Alka Ceramics Ltd, the Ministry for Gozo, the Gozo Cultural Directorate, and the Munxar Local Council present the Gozo Ceramics Festival 2025. This year's edition offers a two-part celebration that places ceramic artistry firmly in the spot- light, showcasing both traditional tech- niques and innovative approaches. The programme opens on Friday, 1st August at 8:00pm with the launch of the Gozo Ceramics Exhibition at the Cittadel- la Cultural Centre in Victoria. This curat- ed exhibition features works from over 30 artists, including several emerging young talents. Visitors will be able to explore the diverse expressions of ceramic art throughout the month of August, as the exhibition remains open to the public for the entire month. On Saturday, 2nd August, attention shifts to Xlendi Bay for the 12th Annu- al Gozo Ceramics Festival. Taking place from 6:00pm to 11:00pm, this open-air event brings together more than 40 ce- ramic artists who will engage audiences through live demonstrations and interac- tive activities. Visitors of all ages will have the chance to get their hands dirty with hands-on clay experiences, while enjoying a vibrant atmosphere filled with music and performance. The event will also feature a unique live act by an international ceramic artist who will demonstrate pottery throwing while cycling as well as a live brass band, tradi- tional music, and dance performances.