Issue link: https://maltatoday.uberflip.com/i/1546037
LATER this year, a team of cy- clists will set off from Momba- sa to ride just under 2,000km in 10 days through Kenya, Uganda and Rwanda, to raise funds for local renal patients. The LifeCycle Changamoto Challenge 2026 – which faces diverse terrains, adverse weath- er conditions, steep inclines and more en route – is the latest edition of the LifeCycle Chal- lenge, organised annually by the LifeCycle Malta Foundation. This year, the public can join their fundraising efforts through Zaar, Malta's crowdfunding platform. Zaar regularly works with local NGOs like LifeCycle Malta Foundation to help them raise funds with the help of the community. With the crowd- funding campaign now live and open until early October, every donation received towards the Foundation's funding goal of €55,000 will help make its wish list a reality for renal patients across the Maltese islands. The Foundation's wish list includes €17,000 for the Lurto software, which manages the waiting list for organ trans- plants and the allocation of organs when a donor becomes available; €25,000 for the Foun- dation's research partnership with the University of Malta's Research Trust (RIDT), which expands research on kidney failure and its treatment; and €8,000 to cover the annual pil- grimage to Lourdes for renal pa- tients and their nurses – a sup- portive community experience that boosts the well-being of all participants. A further €5,300 will buy a hand-held ultrasound convex scanner requested by the Renal Unit in April, which enables doctors to create imag- es of organs. As the only registered NGO in Malta and Gozo dedicated sole- ly to supporting renal patients, the LifeCycle Malta Foundation has raised more than €4 mil- lion for kidney care since it was founded in 1999. Kidney failure is a debilitating condition that affects more people worldwide every year, tying patients to hours of dialysis several times a week while they wait for a trans- plant. "Our cyclists raise funds through sponsors, family and friends, but the needs of Malta's renal patients grow every year," says a representative from the LifeCycle Malta Foundation. "Crowdfunding on Zaar lets everyone become part of the challenge. You don't need to cycle – a donation of any size carries us further down the road and helps us raise aware- ness, provide essential services, improve renal patient care and support ongoing research." To follow the journey or support the challenge, visit the 2026 LifeCycle Challenge crowdfunding campaign at www.zaar.com.mt. 6 COMMERCIAL maltatoday | SUNDAY • 2 AUGUST 2026 MeDirect delivers a profitable first half as growth accelerates MEDIRECT today reported a return to profitability for the six months ended 30 June 2026, re- cording a profit before tax of €2.4 million, compared with a loss before tax of €3.9 million in the same period of 2025. The result was underpinned by continued growth across the Bank's core lending and retail and wealth businesses, a 9% increase in the balance sheet to €5.8 billion, and a strengthened capital base fol- lowing further investment by its controlling shareholder. The six months were the first full reporting period under Banka CREDITAS, part of the privately owned CREDITAS Group, which completed its acquisition of Me- Direct in September 2025. The Bank's strategic direction remains unchanged; the shareholder's in- vestment gives it the means to pursue that strategy with greater momentum. That strategy rests on three pillars: • consolidating and growing its position in its core mar- kets; • leveraging its technolo- gy platform to accelerate the delivery of its business model; and • building sustainable profit- ability around its two prin- cipal business lines — retail and wealth, and business banking. Growth across markets and business lines The Group's balance sheet grew by €481 million, or 9%, to €5.8 billion, driven by growth across its Belgian, Dutch and Maltese mortgage portfolios and a 40% increase in Maltese corporate lending, funded principally by cli- ent deposits, which rose to €4.4 billion. The registered client base grew around 15% over the year to approximately 184,000, with an increasing proportion of cli- ents holding investment products as the shift towards the Bank's wealth proposition continued. Client activity reached record levels. Platform logins rose 57% to 6.87 million, and clients ex- ecuted close to 400,000 trades - almost double the prior period - with more than nine in ten client logins now made through mobile devices, highlighting the contin- ued success of the Group's mo- bile-first strategy. Investing in the digital platform The Bank continued to invest in the technology platform that underpins its digital banking and wealth proposition, delivering enhancements across its services during the period. These included the introduction of SEPA Direct Debit and corporate debit cards, upgrades to its wealth and invest- ment tools, and further strength- ening of the platform's security and fraud-prevention capabilities. The platform maintained a high level of availability throughout the half while absorbing sharp- ly higher client activity, and the Bank intends to extend its digital capabilities further in the second half, including mobile-first client onboarding and new connectivity services for corporate clients. A stronger foundation The return to profit follows the completion of the Bank's balance sheet de-risking, with credit qual- ity across its core portfolios re- maining strong and the non-per- forming loan ratio reduced to 0.5%. The Bank maintained capi- tal and liquidity buffers in excess of regulatory requirements, fur- ther reinforced during the period by a common equity tier 1 contri- bution from the shareholder. In May 2026, MeDirect was named Digital Savings and Invest- ing Platform Excellence Award 2026 (Europe) by Capital Finance International, recognising its success in giving clients a secure, transparent and easy-to-use plat- form that combines lower costs with the tools to manage their own savings and investments. The judging panel also highlighted the Bank's client growth, financial strength and reinforced govern- ance framework. Outlook MeDirect enters the second half of 2026 with momentum across each of its markets, a strength- ened capital base and a platform well positioned to support fur- ther growth. Its priorities for the remainder of the year are to con- tinue growing its client franchise across Malta and Belgium, to further enhance its digital bank- ing and investment platform, and to build sustainable profitability across its core business lines. Commenting on the results, Jean-Claude Maher, Group Chief Executive Officer of MeDirect, said: "Our return to profitability in the first half reflects the strength of our strategy and the momen- tum in our core business. MeDi- rect is well positioned for further growth, with a clear strategic di- rection, a strengthened capital base and a growing, increasing- ly active client base. We remain committed to earning our clients' trust every day, providing indi- viduals and businesses with the best possible banking and wealth management experience, and we thank them for their continued confidence and support." MeDirect Bank (Malta) plc's In- terim Results to 30 June 2026 can be found on the Bank's Investor Relations webpage (https://www. medirect.com.mt/about-us/inves- tor-relations/) MeDirect Bank (Malta) plc, company registration number C34125, is regulated by the Mal- ta Financial Services Authority and is licensed to undertake the business of banking in terms of the Banking Act (Cap. 371) and investment services under the In- vestment Services Act (Cap. 370). MeDirect Bank (Malta) plc is reg- ulated by the Malta Financial Ser- vices Authority as a Credit Institu- tion under the Banking Act 1994. MeDirect Bank (Malta) plc, The Centre, Tigné Point, Sliema, TPO 0001, Malta. LifeCycle crowdfunds to cycle almost 2,000km across East Africa for Malta's renal patients