Aug 2016 Financial News

First Citizens records $159.5 million profit

Aug 05, 2016

STATE banking group First Citizens has recorded an after tax profit of $159.5 million for its quarter ended June 30.

This brings its after tax profit for the nine months to June 2016 to $492.9 million, an increase of approximately 2.2 per cent compared to the same period last year, First Citizens chairman Anthony Smart said.

In his report contained in the bank's unaudited financial statements for the nine months ended June 30, Smart said total assets of the group amounted to $38.4 billion, representing growth of 2.3 per cent during the nine-month period.

Cash and statutory deposits and the investment portfolio increased by 30.2 per cent and 6.4 per cent respectively, Smart said.

Source:
Trinidad Express
Thursday August 4, 2016, 11:00 pm AST

http://www.trinidadexpress.com/20160804/business/first-citizens-records-1595-million-profit