Republic Financial registers $58.4 million in profit
VINCENT PEREIRA (Internet photo) Social Share (BARBADOS TODAY) Republic Financial Holdings Ltd. (RFHL) has recorded a profit of US$58.4 million for the quarter ending December 31, 2020.
Announcing the results on Monday, Chairman of RFHL Vincent Pereira said he expected continued pressure on the Group’s performance, but he remained confident that the financial institution would be able to meet the challenges.
“The uncertainty over the duration of the COVID-19 pandemic and the timing of any economic recovery will continue to place downward pressure on our performance.
“However, we remain confident of the future as our strong capital base and our robust governance structure will provide the platform to meet the challenge.
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RFHL RECORDS US$58 4 MILLION IN FIRST QUARTER PROFITS - St Lucia News From The Voice
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Republic records $391.1m Q1 profit
File photo: Republic Bank s head office on Park Street, Port of Spain
Republic Financial Holdings Ltd (RFHL) on Monday announced a $391.1 million first-quarter profit for the period ending December 31. This is a $17.3 million or 4.6 per cent increase year-on-year.
In a statement, chairman Vincent Pereira said while results reflected the negative impact of covid19, in that the group saw a reduction in net interest margins, fees and commissions, this was offset by the positive impact of its acquisitions in the British Virgin Islands in June 2020.
He commented, “The uncertainty over the duration of the covid19 pandemic and the timing of any economic recovery will continue to place downward pressure on our performance.
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