GBTI registers profit of $1.8B for 2012

The Guyana Bank for Trade and Industry made a profit of $1.8B for 2012 compared to $1.3B in 2011.

Its financial statements for the year ended December 31, 2012 which were published in Friday’s Stabroek News showed that interest income was $4.5B last year ranged against $3.6B in 2011.

Interest expense over the period was down, a recent trend in the banking sector. Interest expense in 2012 was $856M compared to $947M in 2011.

This left net interest income at $3.6B in 2012 compared to $2.7B in 2011.
Other income in 2012 totalled $1.02B compared to $859M in 2011. This boosted net interest and other income to $4.6B in 2012 compared to $3.6B in 2011.

Operating expenses rose in 2012. The 2011 figure was $1.8B while the 2012 figure was $2.07B. Loan provisioning net of recoveries was $37.3M in 2012 compared to $134.9M last year.

Profit before taxation amounted to $2.5B in 2012 compared to $1.9B in 2011. Taxation in 2012 was $729M compared to $526M in 2011. Basic earnings per share was $45.35 in 2012 and $34.57 in 2011. Return on average equity was 22.03% in 2012 compared to 19.79% in 2011. Return on average assets was 2.23% in 2012 compared to 2.01% in 2011.

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