Tuesday 22 October, 2019

Republic Bank records over $900 million in profits

Ronald Harford, Group Chairman, RBL

Ronald Harford, Group Chairman, RBL

Republic Financial Holdings Limited has recorded a net profit attributable to shareholders of $958.9 million for the nine months ended June 30, 2017.

In a release, RBL said this represents an increase of $51.5 million or 5.7 percent over the corresponding period last year.  The Bank’s total assets stand at $69.4 billion at June 30, 2017, an increase of 0.8 percent over June 2016 and 3.8 percent over September 2016.

The Group’s Chairman, Ronald Harford, in announcing the Group’s results said, “While the Group continues to be challenged by weak economic conditions in several of the markets in which we operate, these creditable results were achieved through controlled growth of our loan and investment portfolios, cost control and sound risk management.”

The Chairman anticipates that the performance reflected in the first nine months is expected to be sustained for the remainder of the fiscal year. He expressed his appreciation for the continued support of management, staff and customers of the Republic Group.

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