Thursday 20 September, 2018

Republic Bank makes $993 M in profit

Republic Financial Holdings Limited (RFHL) has recorded a profit attributable to shareholders to the tune of $993.3 million for the nine-month period ending on June 30, representing a $34.4 million or 3.6% increase over the corresponding period of the last financial year.

Total assets stood at $69.6 billion as at June 30.

In a statement issued on Thursday, RFHL said Trinidad and Tobago did not contribute to the increase as the twin-island republic has been stagnated due to current taxation measures by the Government.

“As was the case for the first half of the fiscal year, the improvement in profitability was driven mainly by better performance in our overseas subsidiaries. The profitability of the Trinidad and Tobago operations remains flat due to an increase in the tax rate,” Group Chairman Ronald F Harford said.

 

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