No events or transactions that impacted bank’s financial position – Lombard Bank

In an Interim Directors’ Statement issued for the July 2010 - November 2010 period, Lombard Bank said “the Bank continues to show a very satisfactory net interest margin.”

“While administrative costs, therefore, remain well under control, and a marginal decrease in fees and commissions had been anticipated as a direct result of slower credit activity,” the statement said.

“Further increases in the customer deposit base have been recorded, while credit activity has continued to reflect the cautious business sentiment being experienced.”

The bank remarked that while the overall economic outlook for the Euro area has not improved materially “and in the light of this continued subdued business sentiment, the Bank has maintained a particularly prudent and cautious approach all along.”

The bank also announced that “no material events and / or transactions have taken place that would have an impact on the financial position of the Bank or the Group, such that they would require specific mention, disclosure or announcement pursuant to the applicable Listing Rules.”

The bank’s also said how its subsidiary, MaltaPost plc, “continues to perform positively.”

“The prudent management of the Bank’s balance sheet ensures robust fundamentals, with liquidity as well as capital ratios being maintained well in excess of regulatory requirements.”

The Board of Directors said they remain confident that the bank is “well on course to achieving yet another positive result for the financial year ending December 2010.”