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Financial News

Nov 2013 Financial News

RBL records $1.17 billion profit

Nov 08, 2013

Republic Bank Limited has recorded a profit of $1.17 billion for the year ended September 30. This is an increase of $11 million or one per cent over the corresponding period last year. Chairman Ronald Harford said he is particularly encouraged by the increase in loans and advances of $1.9 billion or 8.2 per cent and he is optimistic growth will continue in 2014. Total assets stood at $57.6 billion at September 30, an increase of $6.0 billion or 11.6 per cent over the prior period.

The Board of Directors has declared a final dividend of $3 payable to shareholders on December 2. This brings the total dividend for the fiscal year to $4.25. Harford said difficult economic conditions persisted in tourism-dependent countries, with profitability in Barbados declining by $23.3 million or 29.6 per cent and losses recorded in the Eastern Caribbean.


Source:
Trinidad Guardian
Friday November 8, 2013

http://guardian.co.tt/business/2013-11-08/rbl-records-117-billion-profit