Republic Bank after-tax profit at $2.33B

Republic Bank (Guyana) Limited registered an after-tax profit of $2.339B for the financial year ended September 2014, slightly down from the $2.343B recorded last year.
In its financial statements published in yesterday’s Sunday Stabroek, the bank reported that interest income had risen from $6.293B in 2013 to $6.805B this year.  Interest expense dropped from $736M in 2013 to $657M this year.
The loan impairment expense net of recoveries rose significantly from $275M in 2013 to $656M this year. Total taxation expense declined from $1.370B last year to $1.283B this year.