As the 2020 annual reporting season comes to an end tomorrow, the banks whose shares or bonds are listed on the Malta Stock Exchange have all published their financial statements for last year.
A comparison of some key figures and financial indicators highlights some important findings which may be useful for the Maltese investing public.
As expected, and in line with the circumstances also overseas, 2020 was indeed a tough year for the Maltese banking sector in general,as all banks reported a significant reduction in profitability, largely as a result of the spike in expected credit losses (ECLs) arising from the severe economic implications of COVID-19.