The Malta Independent 28 June 2022, Tuesday

CC Finance Group registers positive results in 2021

Thursday, 5 May 2022, 15:31 Last update: about 3 months ago

CC Finance Group, which operates in the fields of Investment Services, Fund Services, as well as online investing and digital payments, has published its annual report for 2021, reporting positive results for the fiscal year as it reinforces its position as a leader locally and pursues its internationalisation strategy, which aims at establishing itself in various European markets.  
 
Despite the challenges presented by the COVID-19 pandemic and Malta being placed on the list of Increased Monitoring by the Financial Action Task Force (FATF), 2021 saw the Group hit a number of Key Performance Indicators (KPIs), most notably increasing its revenue by 17.1% from €11.15 million in 2020 to €13.06 million, as well as increasing its Assets Under Management & Administration (AUMA) by 20.9% from €1.88 billion to €2.28 billion. In addition, €213 million of Net Flows were reported. 

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Nick Calamatta, Co-CEO of the Group, said: “We are happy with our performance during 2021, a year in which the group continued to consolidate into three main divisions and achieve the scale needed to further evolve into an international financial services provider.” 

The positive performance throughout the year has been attributed to the diversity of the revenue streams of the Group. Positive revenue growth and also growth in client assets were recorded in each division of the group. The Financial Planning & Wealth division under Calamatta Cuschieri saw record inflows of €77 million. Meanwhile, over 120,000 trades were placed on the digital investment platform over the course of the year. 

Alan Cuschieri, Co-CEO of the Group stated: “The hard work of our workforce is yielding results. The launching of the Moneybase app during our 50th anniversary year promises to be a step change in the execution of our roadmap and strategy.” 

As the Group continues to focus on growing revenue of its core businesses and increasing its AUMA, 2022 is seen as an exciting year thanks to the launches of Moneybase, Malta’s first online payments app, which included the rebranding of the Group’s online trading platform CCTrader to Moneybase Invest. 

 

The Annual Report 2021 is available online via this link https://cc.com.mt/investor-relations/ 

 
CC Finance Group is a privately held Fintech Group that operates in Investment Services & Financial Planning, Fund Services, Online Trading & Payments. With roots dating back to 1971, today the Group is evolving at a fast pace, whilst keeping the same core principles of providing clients a high-quality service by combining technology and experienced professionals, as well as ensuring the strictest governance and ethics. The Group currently employs more than 190 people globally.

 

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