Businessuite #5 Caribbean Ranked Public Company for 2015
The Republic Bank Group Limited “Another Successful Year For The Republic Bank Group.”

Market/Stock Exchange: Trinidad and Tobago
Company: The Republic Bank Group Limited

2016 Rank
2015 Rank: #5
2014 Rank: #5

Chairman: Ronald F. deC. Harford

CEO: David Dulal-Whiteway

Address: Republic House PO Box 1153
9-17 Park Street, Port of Spain Trinidad and Tobago, West Indies
Tel: (868) 625-4411, 623-1056
Fax: (868) 624-1323
Email: email@republictt.com
Website: www.republictt.com
Annual Report and Performance http://stockex.co.tt/controller.php?action=view_stock_charts&StockCode=119

Company Profile:
Republic Bank Limited (the “Parent”) is incorporated in the Republic of Trinidad and Tobago and was continued under the provision of the Companies Act, 1995 on March 23, 1998. The Republic Bank Group (the “Group”) is a financial services group comprising 14 subsidiaries and four associated companies. The Group is engaged in a wide range of banking, financial and related activities in Trinidad and Tobago, the Caribbean and from November 2012, in Ghana. A full listing of the Group’s subsidiary companies is detailed in Note 29 while associate companies are listed in Note 6. Republic Bank Limited is the ultimate Parent of the Group and is listed on the Trinidad and Tobago Stock Exchange.

“Another Successful Year For The Republic Bank Group”

The following edited extract was taken from the company’s 2013 Annual Report to shareholders.

Profit attributable to shareholders for 2014 was $1.19 billion, an increase of $23.4 million or 2% from the prior year, a good performance given the challenging economic climate in which we operate. In accordance with IAS 19 – Employee Benefits (Revised), the Group was required to restate its 2013 profits downwards by $18.97 million, resulting in an adjusted year on year growth of 3.7%.

The Group’s total asset base grew from $57.6 billion in 2013 to $59.4 billion at September 30, 2014, an increase of $1.8 billion or 3.1%. This growth in assets was largely driven by an increase of $1.9 billion or 7.4% in advances and an increase of $129.3 million or 1.6% in investments.

While deposits continue to grow this year, by 4% over the prior period, the rate of growth has decelerated when compared to the 14% deposit growth experienced in 2013.

Throughout the year, we utilised our excess cash reserves to finance the growth in interest earning assets which resulted in a $891.9 million decline in balances Due from Banks.

Total equity increased by $230.3 million to $8.7 billion at September 30, 2014 as the Group continued to build capital resources to support future expansion.

The core operations in Trinidad and Tobago and Guyana continued on their growth path but overall profitability in Guyana remained flat in 2014 due to increased loan loss provisions for loans to the sugar industry.

The performances of Barbados and Grenada continue to be hampered by subdued economic conditions. The Grenada operations recorded a small profit, after a loss in 2013, while the contribution from Barbados declined after accounting for one-off adjustments.

As reported previously, we continue to pursue avenues to amicably resolve the takeover of HFC Bank Ghana, which is now the subject of a legal challenge.

Based on these results, the Board of Directors declared a final dividend of $3.00 (2013: $3.00), which brings the total dividend for the fiscal year to $4.25, in line with 2013. This final dividend was paid on December 1, 2014 to all shareholders of record at November 17, 2014.BM

Ronald F. deC. Harford, Chairman of Republic Bank Limited since 2003, is a Fellow of the UK Chartered Institute of Bankers, the Institute of Banking of Trinidad and Tobago and the Caribbean Association of Banking and Finance. The former managing director of the Republic Bank Group, Mr. Harford retired from the Bank in 2005 after 42 years of service.

Mr. Harford is also the Chairman of Republic Bank (Barbados) Limited, (formerly Barbados National Bank Inc.), Republic Bank Trinidad and Tobago (Barbados) Limited, and Republic Bank (Grenada) Limited.

Mr. Harford is the Chairman of The University of the West Indies (UWI) Development and Endowment Fund and the Campaign Cabinet for Habitat for Humanity Trinidad and Tobago. He is also the Deputy Chairman of the Arthur Lok Jack Graduate School of Business – UWI; a Director of Caribbean Information and Credit Rating Services Limited and a former Director of the Grenada Industrial Corporation. He is a past President of the Trinidad & Tobago Red Cross Society, having served that body for over two decades, and a past President of the Bankers Association of Trinidad and Tobago.

Mr. Harford is a founding Director of the Trinidad and Tobago Debates Commission and led the private sector funding that enabled the Commission to be established and hold a successful political debate on Local Government.