Republic Bank (Guyana) Limited’s after-tax profit for the financial year ended September 30, 2020 was $3.49 billion, down by 9.13% compared to the preceding year.
According to its audited financial statements, published in the October 28 edition of Stabroek News, interest income rose from $9.083 billion in 2019 to $9.576 billion in 2020. Interest expense climbed from $588 million in 2019 to $692.7 million this year. Other income dropped from $3.152 billion in 2019 to $2.848 billion this year.
The credit loss expense on financial assets rose sharply from $86.2 million in 2019 to $366.5 million this year. Operating expenses climbed from $5.586 billion in 2019 to $6.038 billion this year.
