Republic Bank (Guyana) Limited has recorded an after-tax profit of $1.98 billion for its financial year, up from last year’s figure of $1.82 billion.
Managing Director John Alves, in his report in the bank’s 2010 Annual Report, said that the profit achieved this year is $161M or 8.8 percent over that achieved in the previous year. “This result is the product of prudent risk management, optimum investment and lending decisions and the recovery of the losses owing to fraud in 2009,” Alves said. The bank recovered $176.2M from its insurers after a $246M
