Republic Bank (Guyana) Ltd has recorded an after-tax profit of $1.92 B profit this year down slightly from the $1.98 B it notched up in 2010. The profit reflects a 2.7 percent reduction over the figure recorded in 2011.
$850M is being paid out as dividends. Earnings per stock unit fell to $6.43 from $6.61.
Managing Director John Alves linked the reduction in profit particularly to a more cautious approach by consumers. “While the local economy remains not directly vulnerable to the global fallout, increased liquidity, reduced/limited investment opportunities and incoming foreign remittances continue to influence levels of business, more
