Republic Bank’s after tax profit up by 22.7%

By Stabroek News,

Republic Bank (Guyana) Limited’s profit for the financial year ended September 30, 2019 soared by 22.7% or 711.8m.

According to an ad in yesterday’s Stabroek News setting out the audited annual results, Republic Bank’s profit before taxation in 2019 was $5.9b. After taxation of $2.1b it registered after-tax profit of $3.8b compared to the 2018 figure of $3.1b.

Chairman, Nigel Baptiste said that as a result of the performance, the board of the bank has recommended a final dividend of $1.075b or $3.58 per stock unit which if approved will bring the total dividend for the year to $1.555b.

“As we embark on a new fiscal (year), Republic Bank (Guyana) Limited is committed to the future development of Guyana and remains optimistic about continued improvement in the economy”, he said.