Republic Bank Limited Reports Unaudited Separate and Consolidated Earnings Results for the First Quarter Ended March 31, 2018
Republic Bank (Ghana) Limited reported unaudited separate and consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, on a separate basis, the company reported net interest income of GHS 37,542,000 compared to GHS 34,592,000 a year ago. Operating income was GHS 55,015,000 compared to GHS 46,141,000 a year ago. Profit before income tax for the period was GHS 15,646,000 compared to GHS 11,336,000 a year ago. Profit for the period was GHS 11,344,000 compared to GHS 10,769,000 a year ago. Net cash used in operating activities was GHS 203,134,000 compared to net cash generated from operating activities of GHS 26,229,000 a year ago. Purchase of property, plant and equipment was GHS 1,180,000 compared to GHS 9,779,000 a year ago. Purchase of intangible assets- software was GHS 946,000.
For the quarter, on a consolidated basis, the company reported net interest income of GHS 40,372,000 compared to GHS 37,249,000 a year ago. Operating income was GHS 65,514,000 compared to GHS 54,948,000 a year ago. Profit before income tax for the period was GHS 19,798,000 compared to GHS 13,372,000 a year ago. Profit for the period was GHS 14,851,000 compared to GHS 12,330,000 a year ago. Net cash used in operating activities was GHS 199,372,000 compared to net cash generated from operating activities of GHS 25,316,000 a year ago. Purchase of property, plant and equipment was GHS 1,410,000 compared to GHS 10,210,000 a year ago. Purchase of intangible assets- software was GHS 946,000.