Lombard Bank Malta plc - Quote

Lombard Bank Malta plc - Profile

Lombard Bank Malta plc was originally registered in Malta as a limited liability company in May 1969. Until 1975 the Bank was fully owned by Lombard North Central plc (part of the UK Natwest Banking Group). Between 1975 and 2007, there were various instances where there was a change in ownership among the larger shareholders. In 1994, the Bank also listed its shares on the Malta Stock Exchange.

On 15 October 2007, the Bank announced that Marfin Popular Bank of Cyprus (MPB) had agreed to acquire a stake of circa 43% in Lombard Bank Malta plc. The transaction was completed on 29 February 2008 when MPB purchased 3,698,509 Lombard Bank Malta plc shares (42.86% of the total issued share capital at the time) for a total consideration of €48.3 million equivalent to €3.264 per share. MPB’s equity stake has since increased to 48.90%. MPB is the result of a merger between Cyprus Popular Bank Group, Marfin Financial Group and Egnatia Group. It offers a wide range of financial services including retail, corporate and investment banking, wealth management and treasury services. MPB is the second largest bank in Cyprus and the fifth largest bank in Greece in term of assets and is listed on both the Cyprus and Athens Stock Exchanges. MPB’s largest shareholder is Dubai Financial Limited Liability Company (member of Dubai Investment Group).

Lombard Bank Malta plc is licensed as a credit institution in terms of the Banking Act, 1994 and is an authorised currency dealer and financial intermediary. It also holds a category 2 Investment Services licence issued by the Malta Financial Services Authority (MFSA) under the Investment Services Act, 1994. Lombard Bank Malta plc is also a member of the Malta Stock Exchange (MSE) for the purpose of carrying out stockbroking services on the MSE.  The bank provides an extensive range of banking and financial services to domestic and international customers through a network of 7 branches in Malta and Gozo.

The Directors of Lombard Bank Malta plc are: Christian Lemmerich (Chairman), Christos J Stylianides, Joseph Said, Dimitris Spanodimos, K Palamidis, Michael Zammit and Graham A Fairclough (Company Secretary).

Subsidiary

• Lombard Asset Managers Ltd – LAM (100%): In September 2002, Lombard Bank Malta plc concluded the acquisition of 75% of the share capital of Gasan Fund Management Ltd. As a result the fund management firm changed its name to Lombard Asset Managers Ltd. The subsidiary is authorised to provide management and administrative services to Collective Investment Schemes. In fact, it manages Gasan Funds SICAV plc, an open-ended multi class collective investment scheme licensed in Malta.

• MaltaPost plc (66.97% – held indirectly through the wholly owned subsidiary, Redbox Ltd): In August 2006, the Bank acquired a 35% stake in MaltaPost plc, Malta’s postal Universal Service Provider, from Transend Worldwide Limited of New Zealand. In September 2007, Lombard Bank Malta plc purchased an additional 25% of MaltaPost plc from the Government of Malta. Subsequently, the Bank continued to increase its shareholding in the postal operator through the acceptance of shares in lieu of dividends and acquisitions on the secondary market.

Share Capital

The Bank’s shares were admitted to the Official List of the Malta Stock Exchange on 20 April 1994. Thereafter, the Government of Malta offered its 1.6 million shares to the general public.

In December 2005 the Board of Directors of Lombard Bank Malta plc recommended a 2-for-1 share split which was effected on 12 May 2006. As a result the issued and fully paid up shares of Lombard Bank Malta plc doubled to 8,410,720 ordinary shares and their nominal value halved to €0.5823 each.

On 3 May 2008 Lombard Bank Malta plc transferred the amount of €3,603,849 from retained earnings to the called up share capital account and effected a 4-for-1 share split. The issued share capital increased to 34,514,912 shares of a nominal value of €0.25 each.

Lombard Bank Malta plc - Financials

Lombard Bank Malta plc Interim Accounts

Lombard Bank Malta plc Final Accounts

News for Lombard Bank Malta plc

Lombard Bank Malta plc - Downloads

• Lombard Bank Malta plc - Annual Report 2010 (5.3 MiB, 37 hits)
• Lombard Bank Malta plc - Investor Fact Sheet (136.1 KiB, 115 hits)
• Lombard Bank Malta plc - Annual Report 2009 (4.3 MiB, 300 hits)
• Lombard Bank Malta plc - 2009 Preliminary Results (168.1 KiB, 257 hits)
• Lombard Bank Malta plc - Annual Report 2008 (7.1 MiB, 307 hits)