The MSE Equity Price Index on Tuesday remained virtually unchanged at 3,531.927 points as the gain in BOV was offset by the declines in Mapfre Middlesea and LifeStar Holding. Meanwhile, HSBC closed unchanged as overall trading activity amounted to €0.13 million. Nearly half of Tuesday's trading activity took place in the shares of Bank of Valletta plc as the share price advanced by 3.4% to the €0.90 level across thirteen trades totalling 67,239 shares. Last week, BOV published the 2022 annual results showing double-digit growth in net interest income as well as improvement in non-interest income. In aggregate, BOV’s total operating income increased by 20.8% (or +€50.4 million) to €293.4 million. BOV’s performance was also boosted by lower operating costs and a net impairment reversal of €49.1 million. Meanwhile, the financial results were dented by the €103.0 million net litigation settlement related to the Deiulemar case. Overall, BOV reported a profit before tax of €48.7 million (2021: €80.7 million), while excluding the effect of the Deiulemar settlement, adjusted profit before tax amounted to €151.7 million. BOV’s net profit amounted to €31.2 million (2021: €56.2 million).
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