Jun 2016 Financial News

First Citizens earns half year profit of $333.4m

Jun 21, 2016

First Citizens has reported $333.4 million profit after tax for the six months ended March 31. This compared with $325.6 million for the same period in 2015.

The bank’s latest unaudited condensed consolidated financial statements show that customer deposits increased by 13.5 per cent to $29.2 billion.

Chairman Anthony Smart said the bank continues to closely monitor its external environment the impact on economic activities. He said the bank will “continue to focus on strengthening its balance sheet and measures to improve its efficiency and diversification of its product lines.”

Smart was re-elected as chairman for a second term at last Tuesday’s special meeting at the Trinidad Hilton and Conference Centre. Karen Darbasie, Group Chief Executive Officer said he has done a tremendous job for the group, stabilising it in a time of difficulty

Source:
Trinidad Guardian, A13
Tuesday June 21, 2016