The Guyana Bank for Trade and Industry (GBTI) has registered an after-tax profit of $1.48b for the year ended December 2019, a rise of 2.59% over the 2018 figure of $1.44b.
According to the bank’s audited financial statement published in the May 11 edition of Stabroek News, interest income rose from $4.60b to $4.77b. The interest expense declined from $766.8m in 2018 to $763.1m last year. Net interest income for 2018 was $3.84b in 2018 compared to $4.01b
Operating expenses climbed from $3.4b in 2018 to $4b last year. There was a significant improvement in loan recoveries. Whereas an allocation of $116m was made for loan provisioning net of recoveries in 2018, a net recovery of $19.2m was made for 2019.
Basic earnings per share in dollars was 36.15 for 2018 and 37.09 for last year.
