Page 156 - RFHL ANNUAL REPORT 2025 ONLINE_NEW

154 • Republic Financial Holdings Limited 2025 Annual Report • FINANCIALS

Notes to the Consolidated Financial Statements

For the year ended September 30, 2025. Expressed in millions of Trinidad and Tobago dollars, except where otherwise stated.

7 Premises and equipment (continued)

Capital Equipment,
work in Freehold Leasehold furniture
2025 progress premises premises and fittings Total

Accumulated depreciation
At beginning of year – 555 209 2,544 3,308
Exchange and other adjustments – (5) 1 7 3
Charge for the year – 38 19 291 348
Disposal of assets – (4) (1) (86) (91)

At end of year – 584 228 2,756 3,568

Net book value 474 1,847 199 863 3,383

2024

At beginning of year 524 2,301 388 3,192 6,405
Exchange and other adjustments (5) 33 (13) 3 18
Additions at cost 263 25 3 96 387
Disposal of assets (2) – (12) (127) (141)
Transfer of assets (398) 31 15 352 –

At end of year 382 2,390 381 3,516 6,669

Accumulated depreciation
At beginning of year – 508 228 2,346 3,082
Exchange and other adjustments – 9 (1) 5 13
Charge for the year – 38 15 292 345
Disposal of assets – – (33) (99) (132)

At end of year – 555 209 2,544 3,308

Net book value 382 1,835 173 971 3,361

Capital commitments
2025 2024

Contracts for outstanding capital expenditure not provided
for in the Consolidated financial statements 82 49

Other capital expenditure authorised by the Directors
but not yet contracted for 215 241

Capital work in progress
Included in premises and equipment at September 30, 2025 and 2024, are projects across the Group at various stages of
completion. These projects mainly consist of information technology implementations and upgrades as well as building
improvements.