Demerara Bank Limited (DBL) has recorded an after-tax profit of $2.26b for the year ended September 30, 2020, an increase of 4% over the 2019 figure of $2.17b.
In his review of the results published in yesterday’s Stabroek News, Chairman Yesu Persaud said that despite an “exceedingly difficult year, owing to the challenges of COVID-19 and the elections impasse”, DBL had done well due to prudent management and planning.
The board of the bank has recommended a final dividend payment of $1.25 per share. The interim dividend paid was $0.25 per share. Persaud said this brings the total proposed dividend payout to $1.50 per share for the full year. This, he said, would be the highest in the bank’s history. Payment of the dividend is subject to the approval of shareholders and the Bank of Guyana.
DBL, the country’s only indigenous bank, saw its interest income from loans and advances rise from $2.67b last year to $3.15b this year. The interest expense rose from $856.4m last year to $907.9m this year.
Earnings per share were 5.03 this year compared to 4.84 last year.
