Demerara Bank says it has recorded a net profit of $2.041 billion for the year ended September 30, 2018, representing growth of 28% compared with the same period last year.
In a statement issued yesterday, Demerara Bank said that due to its “excellent” performance in today’s “challenging” economy, its Founder and Chairman Dr. Yesu Persaud declared favourable dividends to be paid to the shareholders, with a final dividend payment of 100%, while the interim dividend paid was 35%, which was the highest paid in the history of the bank.
The bank noted that it generated a gross profit of $3.127 billion in 2018, representing an increase of 31% over the gross profit of $2.396 billion recorded for 2017. The net profit of the bank also increased from $1.599 billion in 2017 to $2.041 billion in 2018, it added.
