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Republic Financial Holdings reports 2.3% rise in quarterly profit

Republic FinancialHoldings Ltd. on April 27 posted an unaudited net profit of 290.1 millionTrinidad and Tobago dollars for the three months ended March 31, about 2.3% higherthan the 283.7 million dollars in the year-ago period.

Net interest income for the three months was 749.3 million dollars,28.3% higher year over year from 584.0 million dollars. Other income grew 5.3% overthe year to 312.4 million dollars. However, provisions also grew yearover year, rising 72.9% to 33.0 million dollars, from 19.1 million dollars.

Operating expenses at Republic Financial Holdings reached 639.1million dollars for the three-month period, 27.3% higher from the 502.2 milliondollars in the year-ago period.

The company added that its board of directors declared a half-yeardividend of 1.25 dollars per share, payable on June 1.

As of April 27, US$1 wasequivalent to 6.64 Trinidad and Tobago dollars.