Republic Financial Holding’s Improvement In Profitability Driven By Performance Of Overseas Territories.
Notwithstanding the economic challenges in several key markets, Ronald Harford, Chairman of Trinidad and Tobago based Republic Financial Holdings Limited remains reasonable optimistic that the sound performance achieved in the just concluded quarter will continue for the remainder of the year.
Republic Financial Holding recorded profit attributable to shareholders of TT$340 million for the quarter ending December 2017, representing an increase of TT10.2 million or 3.1% over the corresponding 2016 period.
The improvement in profitability he said was driven mainly by the performance of overseas territories.
The profitability of their Trinidad and Tobago subsidiaries however declined due to an increase in loan impairment expenses of TT$34 million and in increase in taxation of $14.4 million arising from the 5% higher tax rate.BM