APS Bank registers €15.5 million pre-tax profit in 2020
APS Bank saw its pre-tax profit drop by €6.1 million to €15.5 million in 2020 in the face of numerous challenges presented by the COVID-19 pandemic
16 March 2021, 9:48am
by Paul Cocks
APS Group registered a pre-tax profit of €15.8 million (2019 - €26.8 million) while the Bank posted a pre-tax result of €15.5 million (2019 – €21.6 million).
The Group’s Annual Report and Audited Financial Statements for the year ended 31 December 2020 show that the Group’s total assets expanded by a further €252 million, or 11.6% reaching €2.4 billion. Lending activity grew by 13.8% to reach €1.8 billion, with over 60% of the growth coming from households and mortgage financing.
katherine.tonks@subsea7.com
Forward-Looking Statements: This announcement may contain ‘forward-looking statements’ (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘future’, ‘goal’, ‘intend’, ‘likely’ ‘may’, ‘plan’, ‘project’, ‘seek’, ‘should’, ‘strategy’ ‘will’, and similar expressions. The principal risks which could affect future operations of the Group are described in the ‘Risk Management’ section of the Group’s Annual Report and Con
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Katherine.Tonks@subsea7.com
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Forward-Looking Statements: This announcement may contain ‘forward-looking statements’ (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘future’, ‘goal’, ‘intend’, ‘likely’ ‘may’, ‘plan’, ‘project’, ‘seek’, ‘should’, ‘strategy’ ‘will’, and similar expressions. The principal risks which could affect future operations of the Group are described in the ‘Risk Management’ section of the Group’s Annu