Republic Bank (Guyana) Limited is reporting an after-tax profit for the first half of fiscal 2017 of $1.36b.
According to its financial statements published in yesterday’s Sunday Stabroek this represents a decline of $64m or 4.5% when compared with the corresponding period last year. The main reason behind this, according to a statement by Chairman of the Board, Nigel M Baptiste was an increase in the provision for loan losses of $109m. The provision for loan losses has risen across the banking industry and analysts have cited this as evidence of troubles in the economy.
The directors of the bank have approved an
