Issue link: https://maltatoday.uberflip.com/i/470920
Events 27 maltatoday, Sunday, 1 March 2015 HSBC Bank Malta p.l.c. 2014 Annual Results Now, it is free to rent or sell your property online in Malta. Homefind- er.com.mt is a new property portal where property owners can establish contact with potential tenants and buyers without having to pay high rates or commissions associated with using a real estate agent. Large numbers of people find it way too expensive to sell, rent or buy a new home in Malta. We want to pro- vide people with a better and easier option. Therefore we have made it completely free to list your property on Homefinder.com.mt, says direc- tor Michael Steen Pedersen, Home- finder.com.mt. No commissions or out-of-date ads The website homefinder.com.mt has recently been launched. Every single day new properties are being listed for rent or sale. Homefinder. com.mt guarantees that you will be charged no commission, find no ads from estate agents nor encounter any outdated ads. It is our wish to add transparency to the real estate market and bridge the gap between property owner and buyers or tenants, says direc- tor Michael Steen Pedersen, Home- finder.com.mt. He got the idea to create Homefinder after he felt the discomfort of paying estate agency commissions three times during the last couple of years. An important part of the concept is the fact that the database is continu- ally updated and properties are de- leted as they are rented or sold. The site is easy to use, timesaving and most services are completely free. List your property with ease It only takes a few minutes to list your property on the new online portal. You simply provide informa- tion about your property and upload presentable photos. Thereafter cus- tomer service will make your advert available to the public on Home- finder.com.mt so that you quickly can pick the right tenant for your property among all the people who contact you directly. This is a groundbreaking change in the way property is rented and sold in Malta. When a property is rented through a real estate agency, the owner and the tenant each pay half a month's rent as a commis- sion to the agency. Until now it has been quite difficult to sell or rent a home in Malta without having to pay relatively high commissions to estate agents. Informative ads and good photos The Maltese property market is far from transparent. You can often find listings on real estate agency sites that are completely out of date. On Homefinder.com.mt we are utiliz- ing an advanced notification system, which assures users that all proper- ties listed are indeed available and we make certain that all adverts have the necessary information required, says Michael Steen Pedersen. Browse freely from the comfort of your own home while you choose properties that best suit your needs. When you know which properties you wish to see you can create con- tact to the owners directly. Moreover Homefinder.com.mt will provide their customers with standard con- tracts for download, tips for renting or selling property and as a promo- tion you can buy professional prop- erty photographs for only 35 euro. Homefinder.com.mt is launched in close collaboration with Good Morning Malta, EatToday.com.mt, DealToday.com.mt and TimeToEat. com.mt. Find out more on: homefinder.com.mt VolCare is the new project, which CareMalta and SOS Malta have embarked on through a joint col- laboration. Details of this new or- ganization were given at a news launch. Present for the event were the Minister for the Family and So- cial Policy, the Hon Michael Farru- gia, representatives from CareMalta and SOS Malta and other various organizations. The main aim of VolCare is to or- ganize and enhance the voluntary services through the engagement of active citizens to support residents and relatives in all Caremalta's faciltities. The Minister for the Family and Social Solidarity Michael Farrugia encouraged more initiatives like VolCare in order to further promote the volunteering sector. He said that we must help out the Elderly to be more active. Minister Farrugia add- ed that voluntary work is not only a noble act because it is given free, but because it is priceless. CareMalta's C.E.O, Natalie Briffa Farrugia said that CareMalta's main priority is to improve the quality of life of its residents and hence live in an active and engaged lifestyle. She explained that the slogan Citizen, Active, Role Engagement chosen by the VolCare team; re- f lects the vision of enhancing the quality of each other's life, provid- ing companionship, engaging each other to have an active role in the community and offering rewarding opportunities by sharing different experiences. Claudia Taylor East, an expert in this field and CEO of SOS Malta spoke about the philosophy of vol- unteering. She said that volunteering is a key expression of active citizenship and that active citizens who put Maltese values of solidarity into practice day after day should be supported. VolCare volunteers will be engaged without motivation for financial gain but for the benefit of the resi- dents and their families. They will be truly an expression of solidarity, building the Maltese identity of sound values self lessly giving back to the community with commitment, time and personal strengths. The launch focused on the impor- tance of volunteering and the altru- istic values of this noble experience in which anyone can find time and use it preciously to help others in need. Anyone aged 18 years or over is eligible to apply to become a vol- unteer. An interview will be held with all prospective volunteers fol- lowed by focused training. VolCare will be asking all members to contribute a minimum of 3 hours per week. For more information one can send an email on volcare@sos- malta.org or call on 21335097. HSBC Bank Malta p.l.c. delivered a profit before tax of €52m for the year ended 31 December 2014. This was a decline of €38m or 42% on the prior year. Net operating profits before loan impairment provisions and exclud- ing significant notable items (avail- able-for-sale investment sales, ECB Comprehensive Assessment costs and lower insurance technical provi- sion releases) were 12% down on the prior year. The key contributors to the decline in profitability were a €19m increase in loan impairment charges result- ing principally from lower valuations on legacy commercial properties, a €14m decrease in income associated with the challenging operating en- vironment and lower non-recurring revenue items, and a €5m rise in costs primarily due to regulatory fees and additional compliance investment. All three main business lines, Re- tail Banking and Wealth Manage- ment, Commercial Banking and Global Banking and Markets, were profitable during the year under re- view. Mark Watkinson, Director and Chief Executive Officer at HSBC Bank Malta p.l.c., said: "2014 was a year of material challenges on a number of fronts. Operating condi- tions and a changing regulatory en- vironment have each had their own significant impact. Nevertheless the underlying performance of the key business lines has shown resilience and I am confident that the prudent approach that we have taken will serve us well. HSBC has an excellent franchise in Malta and the hard work and dedication of the bank's team during the past year needs to be rec- ognised. Despite the difficult operat- ing conditions, we continue to invest in the bank and to build a long-term sustainable business that will serve the best interest of our customers, our staff, our shareholders and the community in which we work." Net interest income reduced by 4% to €120m compared with €125m in 2013. The fall in interest income was mainly impacted by: the impact of a tightening in interest margin earned on the loan portfolio; lower average lending balances associated with muted loan growth and higher loan repayments; and a decline in interest earned on investments as the pro- ceeds of higher yielding maturing bonds were reinvested at lower rates. This was partially mitigated by a fall in the cost of funds as customers moved to shorter-dated deposits and deposit rates declined. Net fee and commission income of €28m was broadly in line with 2013. The fee and commission income performance was generally positive but the overall result was impacted by the winding down of the fund ad- ministration and custody businesses in early 2014. HSBC Life Assurance (Malta) Lim- ited reported a profit before tax of €9m compared with €13m in 2013. While new insurance business was 10% higher than the prior year, the result in 2014 was negatively impact- ed by downward yield curve move- ments and lower technical reserve releases. Frank Salt Real Estate celebrates 25 years of service in Gozo For more than 25 years, Frank Salt Real Estate's flagship branch in Gozo, has been providing home buyers and sellers with a profession- al and comprehensive service in all property related matters. To mark this special milestone, the company directors and manage- ment recently hosted a lush recep- tion at Palazzo Palina in Ta' Cenc, Sannat, in the company of the Gozo branch's team, its key service pro- viders, as well as a number of cli- ents. "On behalf of Frank Salt Real Estate, I congratulate and thank the men and women at our Gozo branch, spearheaded by the branch manager Marie Grech." said Frank Salt, Chairman of the Frank Salt Real Estate Group of Companies. "Their years of exemplary service and tireless dedication and commit- ment to offering the best of service have definitely paid off. 25 years ago, we were the first Malta based estate agency to see the huge po- tential that Gozo had to offer, and whilst the journey was not always an easy one, we are today a leading real estate name on the island, re- flecting the brand values held dear by all the fourteen Frank Salt Real Estate branches. "Back in the day, we had to change perceptions along the way," Marie Grech explains. "It required peo- ple to shift away from the 'sensar' mentality that prevailed at the time which took some encouragement, but they soon adapted to the idea." In the eighties it was mostly for- eigners who were seeking property in Gozo. People regularly fell in love with Gozo while on holiday and they would be eager to see their options for purchasing a property. Since then the market has gone through all sorts of highs and lows. In the early 90s there was a surge of Mal- tese wanting to purchase holiday homes on Gozo. Meanwhile new international markets emerged too, and keep doing so till this very day. "Even though other agencies have opened up, we have always prided ourselves on giving a good, honest service and this has set us apart." adds Grech. "It's always great to see customers coming back to us when- ever they need a property service. As a result, Gozitan property own- ers are always eager to give us their properties to place on the market and they trust our advice on every- thing from valuations to marketing. We're always happy to help." In addition to the sales and rentals of property, Frank Salt Real Estate offers a whole range of supplemen- tary services, including property management and maintenance, pool servicing, and property fin- ishing and furnishing," says Grech. "The office is constantly buzzing with the array of jobs waiting to be done, and the whole team works to- gether brilliantly. We look forward to many more 25-year anniversaries to come! " More information on the serv- ices offered by the Frank Salt Gozo branch can be found at www.frank- salt.com.mt. Volunteering will enhance the quality of life of older persons in care homes List your property for free on a new online portal Natalie Briffa Farrugia