Republic Bank (Guyana) Limited’s after-tax profit rose by 2.46% for the year ended September 30, 2021 compared to the previous year.
According to its audited financial statements published in the November 7 Sunday Stabroek, Republic Bank registered after-tax profit of $3.580b for 2021 compared to $3.494b for 2020. Profit before taxation was $5.607b for 2021 compared to $5.326b for 2020.
Interest income was marginally down. The figure for 2020 was $9.576b compared to $9.568b for 2021. Interest expense rose substantially from $692.7m in 2020 to $751.2m in 2021. The credit loss expense on financial assets was $324.2m in 2021 compared to $366.5m in 2020. Operating expenses declined slightly from $6.038b in 2020 to $5.966b in 2021.
Earnings per stock unit were 11.94 in 2021 compared to 11.65 in 2020.
