Lombard Bank has received regulatory approval from the Malta Financial Services Suthority to proceed with a rights issue that is expected to net proceeds of €45.4 million.

The proceeds will strengthen the bank’s capital base to ensure that it is well-positioned to meet the capital buffers required in terms of regulatory requirements and supplement the funding needed to implement its growth strategy.

The bank also released its prospectus, providing additional details to a presentation it released earlier this week.

The offer period for the rights offer will commence on 28th September. A shareholders’ information session will be held on 27th September 2023.