Address by Prime Minister Freundel Stuart

Republic Financial Holdings Limited records profit

Republic Financial Holdings Limited records profit
11 May
2017

Republic Financial Holdings Limited has recorded a profit attributable to shareholders of US $94.4 million for the half-year ended March 31st, 2017.

That represents an increase of US $6.6 million or 7.5 per cent over the corresponding period in 2016.

Total assets stood at US$10.3 billion at March 31st, 2017, an increase of 1.8 per cent over March 2016, and 3.0 per cent over September, 2016.

The group's chairman, Ronald Harford 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 the results.

The chairman adds that the group remains focused on improving asset quality and operational efficiency.

He says they expect to achieve a creditable performance in 2017.