The Guyana Bank for Trade and Industry (GBTI) registered profit after tax of $1.4b for 2018, down 4.93% from $1.5b in 2017.
In its financial statements for the year ended December 31, 2018 which appear in today’s Stabroek News, it was disclosed that interest income fell by 8.62% from $5.044b in 2017 to $4.609b last year. The interest expense fell from $789.7m in 2017 to $766.8m in 2018. This meant that net interest income was $3.842b in 2018 compared to $4.254b in 2017. Other income also fell from $1.626b in 2017 to $1.278b in 2018.
Operating expenses fell slightly from $3.412b in 2017 to $3.405b last year. Provisions for bad loans fell sharply. In 2017, loan provisioning net of recoveries was $587.4m. Last year, that figure was $116m.
Taxation for GBTI was $360.1m in 2017 but only $133.4m last year.
Basic earnings per share in dollars was 36.15 last year compared to 38.02 in 2017.
