Republic Bank (Guyana) Limited registered a 20.3% jump in after-tax profit for the year 2015 although interest income rose by just 4.77%.
Its financial statements for the year ended September 30, 2015 in today’s Sunday Stabroek revealed that the subsidiary of the Trinidadian bank registered an after-tax profit of $2.815b for this year compared to $2.339b last year. The bank’s interest income rose from $6.805b in 2014 to $7.13b this year. Its interest expense declined from $657.2m last year to $589.8m this year. This left Republic Bank with net interest income this year of $6.54b compared to 6.14b last year. Other income saw a jump of 27.16%, rising from $2.1b last year to $2.7b this year. Other income represented 29.28% of the bank’s income this year compared to 25.73% last year.
The loan impairment expense was $574.2m this year compared to $656.4m last year. Current taxation this year totalled $1.465b compared to $1.247b last year.
Earnings per stock unit appreciated from 7.8 last year to 9.39 this year.
Advances by the bank rose from $50.49b last year to $52.36b this year.
