(Trinidad Guardian) Republic Financial Holdings Ltd (RFHL), the Port-of-Spain-based holding company for Republic Bank, yesterday announced that it recorded profit attributable to its shareholders of $1.75 billion for the year ended September 30, 2023.
In a news release on Monday, chairman of RFHL Vincent Pereira said the group’s profit represented an increase of $223 million or 14.6 per cent over the 2022 profit of $1.53 billion.
Pereira said, “The strength of our Group lies in our ability to harness the quality of our people and our enviable balance sheet to serve our customers, along with our geographically diverse portfolio of assets.
“The characteristics that make our Group resilient such as fiscal discipline, strong risk management culture, effective governance framework and robust capital, continue to serve us well, and have created an excellent foundation from which we can continue to deliver sustainable results.
“As we look ahead, we acknowledge that the global economic landscape remains uncertain and that the financial services industry is continually evolving. We anticipate further changes and challenges in the years to come, but we are well prepared to navigate those challenges and seize all opportunities as they arise.”
He said, “A key and underpinning plank of our strategy is to deliver a digital transformation that positions RFHL as the leading digital financial group in the markets where we operate. We have developed a comprehensive plan to achieve this goal.
“Our vision of digital transformation encompasses the strategic adoption of digital technologies, data-driven insights and customer-centric approaches to improve the customer/employee experience, optimise service and create personalised experiences. By embracing a digitally empowered ecosystem, we aim to empower customers, improve efficiency, foster innovation and maintain a sustainable competitive advantage in all our markets.”
Pereira concluded, “In the face of dynamic market conditions and an evolving financial landscape, the RFHL Group continues to adapt and deliver strong positive results, while maintaining robust capital adequacy ratios across all our subsidiaries and at the consolidated level. This success could not have been realised without the talented, resilient and committed staff across the 14 countries in which we operate. For their continued high level of commitment and their dedication to our customers, I am truly grateful.”
