The Chair­man of Re­pub­lic Fi­nan­cial Hold­ings Ltd (RFHL), Vin­cent Pereira, an­nounced yes­ter­day that the group record­ed prof­it at­trib­ut­able to its eq­ui­ty hold­ers of $1.26 bil­lion for the nine-months end­ed June 30, 2023. This rep­re­sents an in­crease of $117.1 mil­lion or 10.2 per cent over the $1.15 bil­lion re­port­ed in the cor­re­spond­ing pe­ri­od of the last fi­nan­cial year.

To­tal as­sets stood at $114.4 bil­lion on June 30, 2023, an in­crease of $1.43 bil­lion or 1.3 per cent over the to­tal as­sets at June 2022.

This in­crease was at­trib­uted to growth in cus­tomer de­posits across our sub­sidiaries in the Cay­man Is­lands, East­ern Caribbean, Guyana, and Bar­ba­dos.

In an­nounc­ing the re­sults Mr Pereira said, “The Group’s per­for­mance for the third quar­ter of this fis­cal year con­tin­ued to be strong, boost­ed by sus­tained growth in our loans and in­vest­ment port­fo­lios across all sub­sidiaries.

“Both this growth and the sta­ble or ris­ing in­ter­est rate en­vi­ron­ments in most of our op­er­at­ing coun­tries con­tributed to over­all in­creas­es in net in­ter­est in­come.

“On­go­ing resur­gence of tourism ac­tiv­i­ty in the mar­kets in which the Group op­er­ates al­so sup­port­ed growth in non-in­ter­est in­come.”

“As we ap­proach our fis­cal year end, the Group will main­tain its fo­cus on rev­enue gen­er­a­tion, ex­pense man­age­ment, dig­i­tal en­hance­ment strate­gies, em­ploy­ee and client sat­is­fac­tion.

“Our ESG ini­tia­tives will con­tin­ue to be pri­ori­tised with the launch of the Mi­cro, Small and Medi­um En­ter­pris­es lend­ing pro­gramme in Trinidad and To­ba­go in June 2023.

“To­geth­er with the roll­out of our Cli­mate Fi­nance so­lu­tions and our com­mit­ments un­der the UN Prin­ci­ples for Re­spon­si­ble Bank­ing, they will pro­vide a boost to small­er busi­ness­es in ur­gent need of fi­nanc­ing for so­cial­ly re­spon­si­ble projects.

In clos­ing, Mr Pereira said, “I ex­press thanks to all our val­ued staff mem­bers who con­tin­ue to serve our cus­tomers and key stake­hold­ers who con­tributed to­wards the RFHL group’s achieve­ment of out­stand­ing re­sults for this pe­ri­od.”

Head­quar­tered in Port-of-Spain, The group cur­rent­ly em­ploys more than 6,058 staff in 23 sub­sidiaries op­er­at­ing in 14 coun­tries. Across these mar­kets, RFHL of­fers an ex­ten­sive range of bank­ing ser­vices, in­clud­ing cred­it and deb­it card is­suance and pro­cess­ing, leas­ing, trustee ser­vices, mu­tu­al fund and in­vest­ment man­age­ment, and mer­chant bank­ing.

RFHL’s largest sin­gle share­hold­er is Cor­po­ra­tion Sole, which rep­re­sents as­sets owned by the State of Trinidad and To­ba­go.