Citizens Bank Guyana Inc registered an after-tax profit of $1.8b for 2022, a whopping increase of 70.5% over the preceding year.
This information was contained in the Banks DIH annual report for 2022. Citizens Bank is a 51% owned subsidiary of the company.
The report stated that Citizens Bank’s revenue for 2022 was $4.847b compared with $3.949b last year – an increase of $898m or 22.7%. The profit before tax was $3b compared to $1.782b in 2021 – a jump of $1,219b or 68.4%. Profit after tax was $1.8b compared to $1.056b, an escalation of $744m or 70.5%. Net interest income was $3.577b, the annual report stated.
Earnings per share was $30.26 while the total asset base was $84.7b. Loan assets rose from $33.8b last year to $38.2b – 13% or $4.4b.
