“Upcoming Malta Government Stock Issue – November 2025…”

The Treasury Department has announced that on Friday, 7 November 2025, it will issue a total of €350 million in Malta Government Stock (MGS). The funds will be raised through one or a combination of the following three instruments:

• Malta Government Stock 2030
• Malta Government Stock 2035
• Malta Government Stock 2040

In the event of oversubscription, the total amount on offer may be increased by up to an additional €100 million. The coupon rates for each of the above-mentioned stocks will be announced closer to the issue date.

The issue prices for retail investors will be published in a Department of Information Press Release on Thursday, 13 November 2025.

SD Finance plc Closes €33 Million Bond Issue

db Group’s financing arm, SD Finance plc, has successfully closed its €33 million bond issue, which opened on 7 October, achieving full subscription.

The unsecured bonds carry a 5.2% coupon and are set to mature in 2031. This issuance represents the first tranche of a larger €60 million bond program.

In a company statement, db Group expressed its gratitude to investors, noting their “continued trust and vote of confidence.”

A portion of the €33 million was subscribed by existing bondholders, group shareholders, directors, and employees, with the remainder placed through authorised financial intermediaries for their own accounts or allocation to clients.

APS Bank Posts Higher Profit as Lending and Margins Strengthen

APS Bank plc reported a pre-tax profit of €17.8 million for the nine months to 30 September 2025, up from €16.5 million a year earlier, driven by higher lending activity and improved net interest margins. At bank level, profit rose to €18.2 million.

Net interest income increased 15.1% to €56.5 million, supported by growth in retail and commercial lending and stronger returns on liquid assets. Fee and commission income also rose, while credit quality remained stable, with a lower non-performing loan ratio of 1.4% and minimal impairment charges.

Operating costs increased due to regulatory contributions and expenses related to the bank’s previous acquisition assessment of HSBC Bank Malta. Total assets expanded to €4.38 billion, with the CET1 ratio standing at 14.7%.

Meanwhile, CEO Marcel Cassar said that roughly two-thirds of the ongoing €45 million rights issue has already been taken up by existing shareholders and new investors. He stated that the fresh capital will be used to support technology investments, network and product development, and further business growth. Cassar added that the bank is aiming to sustain quarterly pre-tax profits of €9–10 million in the period ahead.

HSBC Bank Malta Profit Drops 30% in First Nine Months

HSBC Bank Malta plc reported a profit before tax of €82.5 million for the first nine months of 2025, a 30% decrease from the same period last year. The bank said the decline reflects a return to more typical interest rate conditions and lower recoveries on credit losses, though it noted that capital and liquidity levels remain strong.

Revenue was down 13% year-on-year, mainly due to reduced interest income. This was partly offset by higher fee-based services, foreign exchange activity, and transaction banking, particularly in Global Trade Services. Wealth management assets also increased.

Loan book quality improved, leading to a €4.6 million release in expected credit losses. Operating expenses rose by 6% due to higher staff costs and continued investment in technology and property.

HSBC also confirmed ongoing preparations for the potential sale of its majority stake in the Malta subsidiary to CrediaBank S.A., pending regulatory approval.

Trident Estates Signs €29.25m Promise of Sale for Marsa Property

Trident Estates plc has entered into a promise of sale agreement to sell Trident House in Marsa for €29.25 million. The agreement, which remains valid until 30 May 2028, was signed with BBT plc and OS Developments Limited.

The consideration will be paid in stages: €4 million on signing, €1 million by 31 March 2026, and the remaining €24.25 million upon the final deed. BBT plc and OS Developments Limited are linked to several established Maltese real estate and investment groups, including TUM Invest, V&C Group, BT Group and Burmarrad Group.

The property, valued at €20 million earlier this year, is currently partially leased, generating around €335,579 annually. Once the sale is completed, it will be removed from Trident Estates’ portfolio.

Proceeds from the transaction are expected to be used for new property investments, refinancing existing debt and general working capital.

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