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Citizens Bank loan assets jump 10%
Group Chairman, Clifford Reis
Citizens Bank Guyana Inc. has recorded an increase in revenue from $2.879 billion to $3.010 billion, or 4.5 per cent, last year.
Group Chairman, Clifford Reis said profit after tax was $1.004 billion as compared to $922.0 million, an increase of $82.0 million or nine per cent.
He said that the improved profitability was due to increased net interest income and prudent management of the Bank assets. The total assets increased by $3.0 billion from $38.0 billion to $41.0 billion or eight per cent.
Loan assets increased by 10 per cent over the previous year to $23.7 billion. Deposits also increased from $32.2 billion to $34.2 billion, an increase of $2.0 billion or six per cent. Earnings per share were $16.88 compared to $15.49 the previous year.
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