Jul 2011 Financial News

Republic's net profits: $806.1m

Jul 29, 2011

REPUBLIC Bank yesterday announced a net profit attributable to shareholders of $806.1 million over the past nine months, bringing its assets to $46.2 billion.

The net profit was 7.8 per cent higher than the corresponding period last year.

In a statement yesterday, the bank said: "The Republic Bank Group has recorded a net profit attributable to shareholders of $806.1 million for the nine-month period ended June 30, 2011, up 7.8 per cent above the corresponding period last year. The group's total assets grew by three per cent and now stand at $46.2 billion."

Republic Bank chairman Ronald Harford, announcing the results, said: "Our operations in T&T continue to perform creditably in an environment of high liquidity and low loan demand. Guyana also continues to perform well. In Barbados and Grenada, tourism, which is the mainstay of these economies, continues to be negatively impacted by the slow economic recovery in Europe and the United States of America.

Against this backdrop, the group has achieved a profit attributable to shareholders of $806.1 million for the nine month period ended June 30, 2011. Overall, barring any unforeseen circumstances, we expect our end of year results to be satisfactory."


Source:
Trinidad Express
Friday July 29, 2011

http://www.trinidadexpress.com/business/Republic_s_net_profits___806_1m-126381283.html