Page 30 - RB GRENADA ANNUAL REPORT 2025_ONLINE

30 • Republic Bank (Grenada) Limited 2025 Annual Report • EXECUTIVE REPORTS

Chairperson’s Review

Outlook
Grenada’s macroeconomic context and medium-term
prospects are broadly positive; barring risks to the economic
outlook such as Grenada’s susceptibility to natural hazards
and external economic shocks, given a tenuous global
economic outlook.

Growth is projected at 3.8 percent in 2025, with an average of 3.0
percent over 2026-2027, driven by tourism and re-construction
efforts. The agriculture sector is expected to recover gradually,
following the devastation caused by Hurricane Beryl. Inflation
is projected to pick up marginally to 1.5 percent in 2025 and
converge to 2.0 percent thereafter. Grenada’s current account
is projected to have a negative balance of 17.4 percent of GDP
in 2025, as reconstruction efforts and reduced exports of fish
and fishery products is expected to continue, despite the
expansion of tourism receipts.

The Bank’s strategic plan with its central focus on digital
transformation and customer-centric solutions to enhance
customer experience, will contribute to positioning the Bank
to maximise on emerging opportunities in the market; which
will redound to the benefit of its stakeholders.

Appreciation
I extend sincere appreciation to our staff for their unwavering
commitment and dedication to the growth and success of
our business. Special recognition to our valued customers,
shareholders and all other stakeholders for their loyalty. To my
fellow directors, I express gratitude for your continued support.

KAREN T. YIP CHUCK
CHAIRPERSON