APS Group registered pre-tax profits of €15.8 million in 2020, down from €26.8 million one year earlier. The result - a 41 per cent year-on-year decline – came as increases in the group’s operating expenses (up 15.8 per cent to €35.2m) outpaced growth in net interest income, which rose by 9.4 per cent to reach €48.9 million. The vast majority of the group’s 2020 pre-tax profits – €15.5 million – came from APS Bank. The bank’s profits were down 28 per cent from the previous year, when it booked pre-tax profits of €21.6 million. Group total assets were up by €252 million or 11.6 per cent over the year to reach €2.4 billion. Lending activity rose by 13.8 per cnet to reach €1.8 billion, with over 60 per cent of growth coming from households and mortgage financing.