The Guyana Bank for Trade and Industry (GBTI) registered a profit of $1.365 billion for last year, which was 7.9% down from the 2019 figure of $1.483 billion.
According to the audited financial statement for the year ended December 31, 2020, which were published in yesterday’s Stabroek News, GBTI’s interest income fell from $4.778 billion in 2019 to $4.670 billion last year. The interest expense declined from $763.1 million in 2019 to $670.9 million last year. Net interest income for last year was therefore $3.999 billion, compared to the $4 billion in 2019.
Other income was down from $1.674 billion in 2019 to $1.437 billion last year. Operating expenses amounted to $3.8 billion last year compared to $4 billion in 2019. There was a loan provisioning of $228.6 million for last year compared to a net recovery of $19.2 million in 2019.
Basic earnings per share fell from $37.09 in 2019 to $34.15 last year.
