May 2015 Financial News

First Citizens posts $148m profit

May 07, 2015

State bank First Citizens Group has had another profitable quarter with profit after taxation for the three months ended March 31, amounting to approximately $148 million. 

“This brought the year to date profit for the six months to $325.6 million which represents an increase by 1.5 per cent as compared to the corresponding period in 2014,” chairman Anthony Smart said in the bank’s financial results published today. “We were able to manage our expenses while we grew our total income, resulting in an increase in operating profit by $9.4 million.” 

Total assets amounted to $35.8 billion which represents growth of 2.7 per cent during the six month period to March 2015. 

“Most remarkable were our loan and investment growth of 15.8 per cent and 7.2 per cent respectively. The Group’s first quarter performance was particularly noteworthy in light of current market conditions which continue to be marked by high liquidity and low interest rates,” Smart said.

Based on the performance for the six-month period to March 31, the First Citizens Board has declared an interim dividend of 58 cents per ordinary share. This dividend will be paid on May 29 to shareholders on record as at May 15.

Source:
Trinidad Express
Thursday May 7, 2015

http://www.trinidadexpress.com/business/First-Citizens-posts-148m-profit-302858861.html