Republic bank records 14.6% profit increase

RFHL chairman Vincent Pereira.  - RFHL
RFHL chairman Vincent Pereira. - RFHL

REPUBLIC Financial Holdings Ltd (RFHL) reported $1.75 billion in profits for the financial year ending September 30.

The increase in profits represents a 14.6 per cent or $223 million increase in profits as compared to the same period in 2022.

Chairman Vincent Pereira shared the figures in RFHL’s audited annual group financial statements released on Tuesday.

He said the board of directors decided on a final dividend of $4.10 per share, to be paid on December 1. Last year the dividend share was $3.45 per share.

“In the face of dynamic market conditions and an evolving financial landscape, the RFHL continues to adapt and deliver strong positive results, while maintaining robust capital adequacy ratios across all our subsidiaries and at the consolidated level,” Pereira said in his chairman’s remarks. “This success could not have been realised without the talented, resilient and committed staff across the 14 countries in which we operate.”

He said RFHL plans to focus on becoming the leading digital financial group in the markets in which it operates.

“Our vision of digital transformation encompasses the strategic adoption of digital technologies, data-driven insights and customer-centric approaches to improve the customer/employee experience, optimise service and create personalised experiences.

“By embracing a digitally empowered ecosystem, we aim to empower customers, improve efficiency, foster innovation and maintain a sustainable competitive advantage in all our markets,” he said.


"Republic bank records 14.6% profit increase"

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