Apr 2007 Financial News

RBL Results for Half Year Ended 2007

Apr 26, 2007

Port of Spain, Trinidad: April 26, 2007: For the half-year ended 31st March, 2007, the Republic Bank Group has recorded profit attributable to shareholders of TT$816 million, an increase of 119.8% over the comparable period last year.

The Chairman, Mr. Ronald F. deC. Harford, explained that, “During the half-year under review, the Group completed the sale of its shareholdings in First Caribbean International Bank Limited and realized a profit of $370.1 million on the transaction. Adjusting for the effect of the First Caribbean International Bank Limited investment, the Group’s earnings from core operations increased by 21.7%. Credible performances across the Group contributed to these fine half year results.”

The Group’s asset base has continued to grow, with total assets of $36 billion; $2.7 billion greater than that recorded for the comparable period last year. The Board of Directors has declared a half year dividend of 94 cents per share. This dividend will be paid on the 29th May, 2007.

Mr. Harford expressed his appreciation for the support of the customers and the continued hard work of the management and staff of the Group.


Source:
Jacqueline Quamina
Republic Bank Limited
Thursday 26th April, 2007