For the first six months of this year, the Guyana Bank for Trade and Industry (GBTI) has seen a 27% increase in after-tax profit compared to the corresponding period last year.
As a result, the bank has declared an interim dividend of $14 per share.
According to its financial statements for the first six months of this year published in Monday’s Stabroek News, GBTI registered a profit after tax of $1.79b compared to $1.4b for the same period last year.
Chairman Robin Stoby in his statement said that the global economic landscape at mid-2024 has been characterized by subdued growth prospects, heightened inflationary pressures and increased uncertainties. He said that the trend of rising interest rates is expected to contribute to economic deceleration particularly in developed economies.
“Against this backdrop, we anticipate that these global developments will influence our local economy in the coming months”, he said.
Stoby said that total assets grew from $186b to $209b, an increase of 12%. He added that the bank’s improved performance has been influenced by improving loan and investment portfolios.
Net interest income grew from $3.4b to $4.1b.
