Page 124 - RB GRENADA ANNUAL REPORT 2025_ONLINE

124 • Republic Bank (Grenada) Limited 2025 Annual Report • FINANCIALS

Notes to the Financial Statements

For the year ended September 30, 2025. Expressed in Thousands of Eastern Caribbean dollars ($’000), except where otherwise stated.

15 Operating profit

2025 2024

a Interest income
Advances 70,152 68,665
Investment securities 19,305 14,550
Liquid assets 9,419 7,980

98,876 91,195

b Interest expense
Customers’ current, savings and deposit accounts 20,955 20,349
Finance cost lease liabilities – Note 7 (b) 60 103

21,015 20,452

c Other income
Fees and commission income 8,525 7,852
Credit Card fees and commission (net) 9,311 7,939
Net exchange trading income 11,222 10,638
Dividends 14 20
Gain on sale of premises and equipment 70 126
Other operating income 4,591 1,736

33,733 28,311

d Operating expenses
Staff costs 23,995 25,064
Employee benefits/obligations expense – Note 9 (g) 1,414 1,828
General administrative expenses 26,799 27,959
Audit fee 970 970
Audit related expenses 305 517
Property related expenses 5,119 6,277
Depreciation expense – Note 6 3,010 2,874
Depreciation expense right-of-use assets – Note 7 (a) 708 756
Intangible amortisation expense – Note 8 616 1,112
Advertising and public relations expenses 1,663 1,794
Directors’ fees 368 464

64,967 69,615