Jul 2016 Financial News

Republic records $907.4m profit

Jul 29, 2016

REPUBLIC Financial Holdings Ltd—parent of the Republic Bank Group—has recorded a net profit attributable to shareholders of $907.4 million for the third quarter ended June 30.

This represents an increase of 1.1 per cent over the corresponding period in 2015. Total assets stood at $68.8 billion at June 30, an increase of 10.4 per cent over June, 2015, Republic said in a statement yesterday.

Group chairman Ronald Harford said the 2016 results consolidated the performance of new subsidiaries Republic Bank (Suriname) NV and HFC (Ghana) Ltd, which was not the case in the comparative period in 2015.

Harford added, “While the markets in which we operate show economic challenges, we expect the Group's performance for the full year to be consistent with that of the first nine months.”

For its financial year ended September 30, 2015, the banking group recorded profit attributable to shareholders of $1.22 billion.

Source:
Trinidad Express
Thursday July 28, 2016, 11:00 pm AST

http://www.trinidadexpress.com/20160728/business/republic-records-9074m-profit