Page 36 - RFHL ANNUAL REPORT 2024_ONLINE

34 Group President and CEO’s Discussion and Analysis continued

Loans and advances

All figures are stated in TT$ millions
2024 2023 Change % Change

Retail lending 9,761 8,819 942 10.7
Corporate and commercial lending 21,488 19,154 2,334 12.2
Mortgages 36,050 32,683 3,367 10.3

67,299 60,656 6,643 11.0

Trinidad and Tobago 34,203 30,183 4,020 13.3
Barbados 5,973 5,610 363 6.5
Guyana 4,234 3,688 546 14.8
Cayman Islands 8,375 7,615 760 10.0
Eastern Caribbean 10,205 9,451 754 8.0
Suriname 1,034 837 197 23.5
Ghana 1,252 1,277 (25) -2.0
British Virgin Islands 2,023 1,995 28 1.4

Total 67,299 60,656 6,643 11.0

Loans and advances increased by $6.6 billion or 11.0 percent, from $60.7 billion in 2023 to $67.3 billion in 2024, a reflection of the
successful execution of the Group’s 5-year strategic plan.

We continue to focus on the
roll-out of our strategic initiatives,
whilst driving innovation,
enhancing customer experience,

and strengthening our
sustainability practices.

1.96% 1.73%

2024 Return on 2023 Return on
average assets average assets