Page 168 - RFHL ANNUAL REPORT 2024_ONLINE

166 Notes to the Consolidated Financial Statements
For the Year Ended September 30, 2024.
Expressed in millions of Trinidad and Tobago dollars, except where otherwise stated.

23. Related parties (continued)

Key management personnel are those persons having authority and responsibility for planning, directing and controlling the
activities of the Group.

2024 2023

Key management compensation
Short-term benefits 77 69
Post employment benefits 10 11
Share-based payment 5 6

92 86

24. Capital management
The Group’s policy is to diversify its sources of capital, to allocate capital within the Group efficiently and to maintain a prudent
relationship between capital resources and the risk of its underlying business. Equity increased by $1.2 billion to $15.5 billion
during the year under review.

Capital adequacy is monitored by each member of the Group, employing techniques based on the guidelines developed
by the Basel Committee on Banking Regulations and Supervisory Practice (the Basel Committee), as implemented by the
respective Central Banks for supervisory purposes.

In Trinidad and Tobago, the Basel II Regulations were promulgated in May 2020 and adopted by RFHL and its main subsidiary,
Republic Bank Limited (RBL). The Central Bank of Trinidad and Tobago’s risk-based capital guidelines under the Basel II
accord require a minimum ratio of common equity Tier I capital to risk-weighted assets of 4.5 percent, a minimum ratio of
core capital ratio (Tier I) to risk-weighted assets of 6 percent, and a minimum total qualifying capital ratio (Tier I and Tier II) of
14 percent (including Capital Conservation Buffer (CCB) and Domestic Systemically Important Bank (D-SIB) Charge). Core (Tier
I) capital comprises mainly of shareholders’ equity.

Capital adequacy ratio

2024 2023
% %

Institutions under Basel II regulations
Republic Financial Holdings Limited 14.75 14.18
Republic Bank Limited 15.70 14.04
Republic Bank (Barbados) Limited 17.10 16.64
Republic Bank (Ghana) PLC 15.59 17.48
Cayman National Bank 27.99 26.03
Republic Bank (Guyana) Limited 19.23 20.25
Republic Bank (Grenada) Limited 12.72 12.70
Republic Bank (EC) Limited 13.79 16.66

Institutions under Basel I regulations
Republic Bank (Suriname) N.V. 21.03 15.09
Atlantic Financial Limited 66.52 68.81
Republic Bank (BVI) Limited 32.47 27.79