In a company announcement issued on Thursday, Lombard Bank Malta advised that at a routine board meeting held recently, the progress of the bank was reviewed. The directors reported that they are satisfied with the performance of the bank and its subsidiaries and noted that the Lombard Group continues on the path of profitable growth, thereby remaining well positioned to achieve the projections set for the financial year.

The group had also reported a pre-tax profit of e7.76 million for the six months ended 30 June representing an increase of 60 per cent over the same period in 2007. Since MaltaPost became a subsidiary of the bank in September 2007, the above results included, for the first time, the full effect of its financial performance.