Republic Financial : 31 Jul 2023 – Republic Financial Holdings Limited – Unaudited Financial Highlights for the 3rd Quarter ended June 30th, 2023

REPUBLIC FINANCIAL HOLDINGS LIMITED
CONSOLIDATED FINANCIAL HIGHLIGHTS
	UNAUDITED	UNAUDITED	AUDITED
	THREE MONTHS	NINE MONTHS	YEAR
	ENDED	ENDED		ENDED
	Jun-30-23	Jun-30-22	Jun-30-23	Jun-30-22	Sept-30-22
	$'000	$'000	$'000	$'000	$'000
Profit before taxation	710,999	642,609	1,916,997	1,748,559	2,335,097
Profit after taxation	531,894	456,707	1,396,392	1,257,468	1,683,886
Profit attributable to shareholders	476,051	416,994	1,262,825	1,145,731	1,525,894
Assets			114,381,066	112,948,079	110,977,703
Advances			60,065,141	56,681,573	56,829,415
Investment securities			19,586,840	20,226,142	19,953,780
Deposits and other funding instruments			94,887,918	92,916,936	92,048,120
Stated capital			926,910	906,523	912,693
Equity attributable to equity holders of the parent			12,640,541	12,109,880	12,239,242
Information per share
Earnings per share			$7.75	$7.03	$9.37
Number of shares - average ('000)			162,949	162,902	162,928

Chairman's Comments

The Group's performance for the third quarter of this fiscal year continued to be strong, boosted by sustained growth in our loans and investment portfolios across all subsidiaries. Both this growth and the stable or rising interest rate environments in most of our operating countries contributed to overall increases in net interest income. Ongoing resurgence of tourism activity in the markets in which the Group operates also supported growth in non-interest income.

These factors enabled Republic Financial Holdings Limited (RFHL) to record profit attributable to its equity holders of $1.26 billion for the nine-months ended June 30, 2023. This represents an increase of $117.1 million or 10.2% over the $1.15 billion reported in the corresponding period of the last financial year. Total assets stood at $114.4 billion on June 30, 2023, an increase of $1.43 billion or 1.3% over the total assets at June 2022. This increase was attributed to growth in customer deposits across our subsidiaries in the Cayman Islands, Eastern Caribbean, Guyana and Barbados.

As we approach our fiscal year end, the Group will maintain its focus on revenue generation, expense management, digital enhancement strategies, employee and client satisfaction. Our ESG initiatives will continue to be prioritized with the launch of the Micro, Small and Medium Enterprises lending programme in Trinidad and Tobago in June 2023. Together with the rollout of our Climate Finance solutions and our commitments under the UN Principles of Responsible Banking, they will provide a boost to smaller businesses in urgent need of financing for socially responsible projects.

I express thanks to all our valued staff members who continue to serve our customers and key stakeholders who contributed towards the RFHL Group's achievement of outstanding results for this period.

____________________

Vincent Pereira

Chairman

July 28, 2023