Republic Bank

Changes to holiday period business hours at Republic Bank

Republic Bank wishes to advise its customer that ALL branches will be closed on Saturday 28 December, due to decreased in-branch customer traffic.

The bank had had opening hours on Saturday’s this month, to facilitate the changeover to the new TT$100 polymer bill.

In an official statement, Republic Bank confirms that the new notes will continue to be available in all ABMs.

In addition, the bank states that the temporary extended banking hours implemented to facilitate the notes’ exchange will resume on Monday 30 December:

Bank rush for new $100 notes

Hundreds of people swarmed banks in Port of Spain this morning, standing in line from early as 7 am.

This, as various financial institutions begin exchanging the old $100 bill for the new polymer note, which was launched yesterday.

The public has 21 days, including today, to go into the banks and exchange their currency because—as of January 1st, 2020—the old bills will be useless.

Announcing the change last week, government officials said it is being done quickly as a national security measure.

Republic announces $783.2 million half-year profit

Republic Financial Holdings Limited (RFHL) and its subsidiaries have announced after-tax profit of $783.2 million for the period ended March 31, 2019.

RFHL says that this figure was impacted by two significant one-off items, the net impact of which positively increased profits by $93.1 million.

Firstly, the bank in Trinidad and Tobago amended the terms of its post-retirement medical benefits plan in line with market, resulting in a write-back net of deferred taxes of $284.9 million.

Republic makes $650.4 million half-year profit

Republic Financial Holdings Limited (RFHL) has recorded a profit attributable to shareholders of TT$650.4 million for the half-year ended March 31, 2018.

This represents an increase of $19.9 million or 3.2% over the $630.5 million reported in the corresponding period of the last financial year.

Total assets increased by 0.3% over total assets as at March 2017, to stand at $69.1 billion at March 31, 2018.

MY EYE: Republic Bank workers protest

This photo was sent to us by Becca88 via the new CNC3 app.

Becca titled it, "Republic Bank Limited staff members protest in Port of Spain".

Becca says staff members of Republic Bank marched in protest in front of the Head Office on Park Street in Port of Spain this evening with signs, drums and whistles to display their displeasure with the current negotiations of salaries as the bank has offered a 6% increase over 3 years, broken down as first year 1%, second year 2%, and third year 3%.

There were marches in other branches today as well.