Page 36 - RB GRENADA ANNUAL REPORT 2025_ONLINE

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

Managing Director’s Discussion and Analysis

Non-interest income Non-interest income ($M)

After declining slightly in 2024, Non-interest income increased
by $5.42 million or 19.15 percent to $33.73 million, in 2025. The 40.00
main contributor to this increase is Other operating income, 33.73
which increased by $2.86 million, mainly due to $2.20 million 28.37 28.31
30.00
in one-off income achieved during the year. Credit card fees 23.99
and commissions increased by $1.37 million or 17.28 percent 21.48
respectively, mainly due to new strategies implemented 20.00
during the year. Fees and commissions and Exchange earnings
increased by $0.67 million or 8.57 percent and $0.58 million or 10.00
5.49 percent respectively.
0
2021 2022 2023 2024 2025

Sources of revenue

2025 2024 Change
% %

Advances 52.90 57.46 -4.56
Investment securities 14.56 12.18 2.38
Liquid assets 7.10 6.68 0.42
Exchange earnings 8.46 8.90 -0.44
Fees and commissions 13.45 13.21 0.24
Other income 3.53 1.57 1.96

The major shift in sources of revenue as a percentage of total revenue in 2025 is reflected in Investments and Other income which
increased by 2.38 percent and 1.95 percent respectively, while advances decreased by 4.56 percent. The shift in investments was
mainly due to robust liquidity management, while advances declined due to the increase in the non-performing portfolio and
declining yields.

Operating expenses Operating expense ($M)
After increasing consecutively since 2021, the Bank recorded a
decrease in operating expenses this fiscal; decreasing by $4.65
80.00
million or 6.68 percent to $64.97 million from $69.62 million in 69.62
65.53 64.97
2024. All major areas of operating expenses recorded reduction
60.00 55.59
mainly due to strategies employed to manage expenses. 50.49

40.00

20.00

0
2021 2022 2023 2024 2025