Sabga: Ansa Merchant Bank poised for growth

ANSA Merchant Bank Ltd chairman A Norman Sabga has said the bank is poised for financial growth.

He made this comment in the bank's abridged financial statements for the year ended December 31, 2022.

Sabga said total assets grew by two per cent to $9.6 billion in 2022, compared to $9.4 billion in 2021.

Due to strong growth estimated at $0.52 billion in loans and advances, Sabga said, this "resulted in our banking business producing a profit before tax in excess of $124 million.

He also attributed the positive outlook for the bank's future growth to investments made in digital technology over the last year.

The bank launched its first fully digital touchpoint in San Fernando last year.

Sabga said additional touchpoints will be launched in other parts of TT during the course of 2023.

He added there has been positive growth in the insurance segments of the Ansa McAl Group (Tatil and Tatil Life) of which the bank is a part.

"Our significant investments in new IT (information technology) across the banking and insurance companies represents the execution of our vision which will bear significant returns for all stakeholders in 2023 and beyond."