GBTI registers profit of just over $2B

An after-tax profit of just over $2 billion was achieved by the Guyana Bank for Trade and Industry (GBTI) for the year ended December 31, 2015, slightly lower than in the previous year.

The company’s financial statements published in the last Sunday Stabroek showed that the after-tax profit for last year was $2.012 billion compared to $2.117 billion in 2014.

Noticeable in the consolidated statement was that loan provisioning rose sharply from $176 million in 2014 to $620 million last year.

Interest income rose to $5.6 billion in 2015 compared to $5.3 billion in 2014. The interest expense increased from $895 million in 2014 to $906 million last year. Net interest income in 2015 was $4.7 billion compared to $4.4 billion in 2014. Operating expenses appreciated from $2.6 billion in 2014 to $2.8 billion in 2015. Taxation was significantly lower. The figure in 2014 was $875 million while the taxation amount in 2015 was $673 million.

Basic earnings per share was 50.31 in 2015 compared to 52.93 in 2014.

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