Sunday 20 October, 2019

Republic Financial Holdings Limited records over $680 mil in profit

Republic Financial Holdings Limited has recorded a profit of $630.5 million for the half-year ended March 31, 2017.

This, the bank said in a release, is an increase of $44.2 million or 7.5 percent over the corresponding period in 2016.

Total assets stood at $68.9 billion at March 31, 2017, an increase of 1.8 percent over March 2016 and 3.0 percent over September 2016.

The Group’s Chairman, Ronald Harford, in announcing the Group’s results noted that the half-year results were mainly driven by a reduction in loan impairment expense and taxes in the Group’s subsidiary in Ghana.

He added that an improvement in the performance of the Group’s operations in Trinidad and Tobago also contributed to these results.

“The Group remains focused on improving asset quality and operational efficiency. Notwithstanding the challenging global economic environment, we expect to achieve a creditable performance for 2017,” Harford stated.

The Board of Directors has declared a half-year dividend of $1.25 per share payable on June 1.

 

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