R K Sharma
The Guyana Bank for Trade and Industry (GBTI) registered a record after tax profit of $940m for 2008 and a final dividend of $6 per share is being recommended at its Annual General Meeting on Tuesday.
Its after tax profit was up by 18.2% over the 2007 figure of $795m. Income from loans and advances was up by 7.9% from $1.39b to $1.5b. Total interest income rose by 11.6% from $2.4B to $2.7B. Interest expense jumped by 16% from $876m to $1.01b. Other income also saw a significant increase, moving by 15.8% to $903m from $780m. The relevant note to the accounts described other income as fees and commissions among which are ATM transaction fees; commitment fees – negotiation, application fees for new loan accounts; cost of drafts and transfers; ledger fees, safe custody and telephone banking. Salaries and other staff costs were up 12.5% from $548m to $617m. Read more
Congratulations to Mr. Sharma and his bank for good performance in a tough environment and at a time when banks are being bailed out. What does the Globe Trust directorship say about GBTI?
ReplyDeleteYet again we see the banking sector dong well. This is just another indication that things are not on the downturn, financially, in Guyana.
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