RFHL records $1 billion in half-year profits

REPUBLIC Bank Financial Holdings Ltd (RFHL) recorded a billion dollars in half-year profits for the year ending March 31, 2024, the company said in a media release on April 30.

Chairman, Vincent Pereira, said the results represented an increase of $213 million, or 27 per cent as compared to the corresponding period for 2023, in which it recorded $787 million.

He said excluding one-off losses reported in the prior period, core profits after tax and non-controlling interest increased by 15 per cent, or $130 million.

“Throughout this six-month period, the group continued to focus on advancing our strategic objectives, strengthening our market position across all the markets in which we operate, improving customer experience and maintaining our focus on delivering outcomes that are aligned to our sustainability commitments. This drive has resulted in enhanced performance across all the 16 countries in which the group operates,” Pereira said.

He added that strategic emphasis on improving employee engagement, enhancing customer experience and satisfaction together with delivering on its digitalisation plan will continue to add value to stakeholders.