The Trinidad-based Republic Financial Holdings Limited (RFHL), has announced a profit attributable to its equity holders of TT$1.15 billion (One TT dollar=US$0.16 cents) for the nine months ended June 30, 2022
“Our performance for this period of 2022 reflects a modest improvement over our core pre-COVID 2019 third quarter performance, by TT$6.3 million or 0.6 percent,” said RFHL chairman, Vincent Pereira.
He said during the third quarter of the group’s fiscal year all the countries where the RFHL operates continued the relaxation of COVID-related protocols which positively impacted the tourism-dependent areas, where economic activity continues to improve steadily.
“The Group also benefitted from rising interest rates on US dollar-denominated securities in some of our operations. These positive impacts were somewhat dampened by continued supply chain disruptions and inflationary pressures resulting from the Russia/Ukraine war.”
He said total assets stood at TT$112.9 billion at June 30, 2022, an increase of TT$4.7 billion or 4.3 percent over the total assets at June 2021.
“This increase was funded by growth in customer deposits across our subsidiaries in the Cayman Islands, Eastern Caribbean, Guyana, and Barbados. Amid continued economic uncertainty, the Group remains focused on cost management, improving the experiences of our clients and staff through increased investment in our digital offerings and continuing to provide a safe working environment for our teams.”
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