The parent company of Republic Bank (Anguilla) has reported a net profit of US$349 million for the financial year ending on 30 September.
This represents an increase of 5.8% over the prior year, according to Republic Financial Holdings Limited chair Yashmid Karamath.
Total assets grew to $20.3 billion, while earnings per share increased to $2.13, compared with $2.01 in the previous year.
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Karamath, who announced the results in a company press release on 6 November, said the performance was underpinned by growth in core banking revenues.
He added that contributions from insurance and investment businesses, and a continued focus on operational efficiency were also a factor.
“Throughout the year, we continued to invest in digital transformation initiatives, process enhancements, and customer-focused solutions designed to strengthen service delivery and improve the overall client experience across our markets,” he said.
Based on this performance, the board of directors has declared a final dividend of $0.62 per share, bringing the total dividend to $0.94 per share for the fiscal year – an increase of 5% or $0.04.
Karamath said: “The group continues to maintain its commitment to prudent risk management and sound corporate governance.
“These principles remain central to our long-term success and are critical to sustaining the confidence of our customers, regulators, shareholders, and the communities we serve.”
He added that the group remained positive about future growth opportunities across the region.
“Our strong balance sheet, diversified earnings base, trusted brand, and ongoing investments in technology position us well to pursue sustainable growth while adapting to an evolving financial services landscape,” he said.
Karamath thanked the group’s customers for their continued loyalty, staff and management for their dedication, regulators for their guidance and shareholders for their ongoing confidence and support.
“Your contributions continue to be instrumental to the success of Republic Financial Holdings Limited,” he said.
He also paid tribute to retiring group president and chief executive Nigel Baptiste, thanking him for his leadership and significant contribution to the group’s success.
Republic Bank (Anguilla) Limited is part of Republic Financial Holdings Limited, a financial services group headquartered in Trinidad and Tobago.
The bank, located in The Valley, was previously part of Scotiabank’s Caribbean operations until the group acquired the business in October 2019.
