The Guyana Bank for Trade and Industry’s (GBTI) profit for 2014 was $2.117 billion, slightly down from the previous year’s figure as provisioning for bad loans rose significantly.
According to its financial statements published in the March 27 edition of Stabroek News, interest income for the bank rose from $5.045 billion in 2013 to $5.388 billion last year. Interest expense on the other hand dipped from $960 million to $895 million over the same period. Other income dropped from $1.423 billion to $1.311 billion between 2013 and 2014. Net interest and other income climbed from $5.508 billion to $5.804 billion over the same period. Operating expenses rose from $2.416 billion in 2013 to $2.634 billion last year. Loan provisioning net of recoveries was $176.6 million for 2014 compared to the $32 million in 2013. Profit before taxation totalled $2.992 billion for 2014 as compared to $3.061 billion in the preceding year. Taxation dropped from $882 million in 2013 to $875 million last year. After-tax profit for 2014 totalled $2.117 billion compared to $2.178 billion in 2013.
Loans and advances rose from $42.8 billion in 2013 to $44.6 billion last year. Basic earnings per share in dollars for GBTI was 54.47 in 2013 compared to 52.93 last year. Return on average equity was 22.71% in 2013 compared to 19.13% last year.
