Republic FHL records $958.9 million in third quarter profits

Republic Financial Holdings Limited (RFHL) has recorded a net profit attributable to shareholders of TT $958.9 million for the third quarter ended June 30, 2017.

In a statement issued today, RFHL said, “This represents an increase of $51.5 million or 5.7 percent over the corresponding period last year. The bank’s total assets stand at $69.4 billion at June 30, 2017, an increase of 0.8 percent over June, 2016 and 3.8 percent over September, 2016.”

RFHL Group Chairman, Ronald Harford, in announcing the results, said “while the Group continues to be challenged by weak economic conditions in several of the markets in which we operate, these creditable results were achieved through controlled growth of our loan and investment portfolios, cost control and sound risk management.”

Harford anticipated the performance reflected in the first nine months is expected to be sustained for the remainder of the fiscal year. He also expressed his appreciation for the continued support of management, staff and customers of the RFHL.