Still grappling with the fallout from a $941m fraud case that is before the courts, the Guyana Bank for Trade and Industry (GBTI) has reported a 25% decline in profit for 2017 in a year which also saw a decline in interest income.
After-tax profit for 2017 was $1.5b compared to $2.032b in 2016. The bank will hold its Annual General Meeting on June 21st and the proposed final dividend to shareholders will be below what was paid for 2016.
The bank’s net interest income slid by 16.2% from $5.045b in 2016 to $4.223b last year. Other income rose from $2.351b in 2016 to $2.467b last year.
The operating expense rose from $3.965b in 2016 to $4.215 last year. Taxation was down from $499m in 2016 to $367m last year.