BNF Bank has made a profit before tax of €6.3 million in the first half of 2024, showcasing a solid financial performance fuelled by continued strategic investment in technological advancements.

As of June 30, 2024, BNF Bank’s total assets grew to €7,277.8 million, compared to €1,236.4 million in December 2023. Loans and advances to

customers also increased, reaching €975.2 million from €950.3 million in December 2023. The percentage of credit-impaired loans decreased to 2.5%, underscoring the bank’s robust credit management practices.

The bank is committed to maintaining a strong liquidity position, with the Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) remaining well above regulatory requirements at 195.6% and 138.1%, respectively.

The bank’s Capital Adequacy Ratio stood at 17.4%, well above regulatory requirements and supporting a solid foundation for future growth.

BNF Bank’s chief financial officer, Mark Micallef, expressed confidence in the bank’s ongoing progress, highlighting the significant yet manageable investments in digital transformation. He commended the bank’s achievements in the first half of the year, including the successful implementation of digital customer onboarding and the opening of a new branch at the Campus Hub.

Micallef assured customers that they can anticipate further enhancements in the coming months and emphasised the bank’s commitment to its core philosophy: BNF Bank’s success is driven by keeping customers at the forefront of everything it does.

The bank says its ongoing commitment to technology and operational excellence positions it well to capture new opportunities and drive sustainable growth.

The bank’s condensed interim financial statements for the six-month period ended June 30, 2024, can be accessed online on the bank’s website at www.bnf. bank/investor-relations.