The New Building Society (NBS) recorded a profit of $1.026 billion last year, a 14.6% decline from 2018’s figure of $1.201 billion.
The period also saw a sharp rise in provision for impairment of loan assets.
The financial statements of the mortgage institution, which were published in the March 25 edition of the Guyana Chronicle, show that interest income on loan assets rose from $2.5 billion in 2018 to $2.6 billion last year. Income from investments, however, declined from $192.5 million to $161.3 million and income from cash resources also fell from $290.3 million in 2018 to $267.6 million last year.
