Jul 2007 Financial News

RBL Results for the Third Quarter Ended June 30, 2007

Jul 27, 2007

Port of Spain, Trinidad: July 26, 2007: For the third quarter ended 30th June, 2007, the Republic Bank Group has recorded profit attributable to shareholders of TT$234 million.

The Chairman, Mr. Ronald F. deC. Harford, explained that, “This brings the Group’s reported earnings for the nine months to $1,050 million, an increase of 144% over the corresponding period last year. Included in these results is $370 million representing profit from the sale of shares in FirstCaribbean International Bank. For the period to date, core operating profit shows a healthy increase of 20% before accounting for the impact of the sale of the FirstCaribbean International Bank shares. The Group’s performance for 2007 is on target and we expect this to continue to the close of the financial year.”

The Group’s asset base has continued to grow, with total assets of $37 billion; $1.7 billion greater than that recorded for the comparable period last year.

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 July 26, 2007