Republic Financial Holdings Limited (RFHL) has recorded a profit attributable to shareholders of US$49.4 million for the quarter ending 31 December 2016. This represents an increase of US$3.5 million (7.6%) over the corresponding period in 2015.
Total assets of RFHL stood at US$10.3 billion at 31 December 2016, which when compared with that of December 2015, reflects an increase of 4.3% and 2.4% over September 2016.
Chairman of the Holdings Company, Ronald F deC Harford, in announcing the results said the results were driven by a reduction in loan impairment expense in the Group’s Ghana subsidiary and improvements in the performance of the Trinidad and Tobago operations. “The Group remains focused on improving asset quality and efficiency,” Harford said.
Noting the current economic challenges faced in the Trinidad and Tobago’s environment, he added that, the Group expects to achieve a creditable performance for 2017. He also expressed his appreciation to customers for their support and to the management and staff of the Group for their continued hard work.