profit

Scotiabank reports 1st quarter profit of $184 million

Scotiabank Trinidad and Tobago Ltd (Scotiabank) has reported income after taxation of $184 million for the quarter ended 31 January 2019, an increase of $39 million or 27% over the comparative period last year.

A statement by Scotiabank says that the increase over the prior year was driven by growth in the retail and commercial loan portfolios together with a tax credit and lower impairment losses on financial assets. Scotiabank continues to highlight its financial strength with Return on Equity at 18.47% and Return on Assets at 3.06%.

Republic announces 1st quarter profit of $350.5 million

Republic Financial Holdings Limited (RFHL) has announced that the group recorded profit attributable to shareholders of $350.5 million for the quarter ending December 31, 2018.

This represents an increase of $10.5 million or 3.1% over the corresponding period of the previous financial year.

At December 31, 2018, RFHL's total assets stood at $72.5 billion, an increase of 3.6% over the total assets at December, 2017 and 2.9% over September, 2018.

Republic Financial Holdings records $630.5 million half-year profit

Republic Financial Holdings Limited has recorded a profit attributable to shareholders of $630.5 million for the half-year ended March 31, 2017, an increase of $44.2 million or 7.5% over the corresponding period in 2016.

Total assets stood at $68.9 billion at March 31, 2017, an increase of 1.8% over March, 2016 and 3.0% over September, 2016.
 
The Group’s Chairman, Mr. Ronald F. deC. Harford, in announcing the Group’s results noted that the half-year results were mainly driven by a reduction in loan impairment expense and taxes in the Group’s subsidiary in Ghana.

Technology: Huawei registers US$75 billion in revenue

Huawei has released its audited financial results for 2016, reporting that its Carrier, Enterprise, and Consumer business groups (BGs) each achieved solid year-on-year growth.

Group annual revenue was CNY521.6 billion (US$75.1 billion), an increase of 32% over 2015.

Net profits were CNY37.1 billion (US$5.3 billion), an increase of 0.4%.

In 2016, Huawei continued to invest in the future, with the company's annual spending on research and development reaching CNY76.4 billion (US$11 billion).

Republic announces $586 million half-year profit

Republic Financial Holdings Limited, the parent company of Republic Bank Limited, has announced more than half a billion dollars in profit attributable to shareholders.

This represents a 2.4% increase over the previous year.

The following is the statement from RFHL: