Page 33 - RB GRENADA ANNUAL REPORT 2025_ONLINE

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The following is a discussion and analysis of the financial performance
and position of the Bank for the year ended September 30, 2025. Our improved suite of technology platforms
This discussion should be read in conjunction with the Audited continues to enhance delivery of service to
Financial Statements contained on pages 77 to 146 of this report. customers and efficiency in our operations.
All amounts are stated in Eastern Caribbean (EC) currency. The improved products and services
offered have inherent flexibility and are
Foreign currency balances have been converted to EC dollars at the specifically structured to satisfy the banking
prevailing mid-rate on September 30, for each financial year. requirements of our many valued customers.
Serving with excellence is the focus.
The following are the mid-rates for the major currencies as at
September 30:

2025 2024

United States dollars 2.7000 2.7000
Canadian dollars 1.9408 1.9976
Pounds Sterling 3.6295 3.6200
Euro 3.1790 3.0341
TT dollars 0.4067 0.4067

Summary of Republic Bank (Grenada) Limited operations
All figures in EC$M
2025 2024 Change % Change

Profitability
Core profit before taxation and provisioning 46.63 29.44 17.19 58.39
Credit loss (expense)/recovery on financial assets (26.18) 3.08 (29.26) (950.00)
Profit before taxation 20.45 32.52 (12.07) (37.12)
Profit after taxation 15.49 23.63 (8.14) (34.45)

Balance Sheet
Total assets 2,385.24 2,218.53 166.71 7.51
Total advances 1,181.37 1,110.03 71.34 6.43
Investments 484.06 374.19 109.87 29.36
Total customer deposits 1,822.30 1,758.22 64.08 3.64
Shareholders’ equity 260.19 252.49 7.70 3.05

Statement of income review
For the year ended September 30, 2025, the Bank recorded net profit TOTAL ASSETS ($B)
after tax of $15.49 million, a decrease of $8.14 million or 34.45 percent 2.39
from the $23.63 million recorded in 2024. The Bank’s operating
income showed strong performance; increasing by $17.19 million or
58.39 percent, mainly due to increased income of $12.54 million and
reduced operating expenses of $4.65 million. However, these were 0.66 RETURN ON ASSETS (%)
offset by a $29.26 million increase in credit loss expense on financial
assets, attributed mainly to two corporate facilities.