Page 171 - RFHL ANNUAL REPORT 2025 ONLINE_NEW

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18 Other reserves (continued)

Translation reserves
This balance represents assets and liabilities of subsidiary companies translated into Trinidad and Tobago dollars at the ruling
rates of exchange at the Consolidated statement of financial position date.

Other reserves
This balance represents the difference between regulatory reserve requirements and specific provisions under IFRS
Accounting Standards and is an appropriation of retained earnings for certain subsidiaries in the Group in accordance with
regulatory requirements in those jurisdictions.

Unallocated shares in the staff profit sharing scheme
The Republic Bank Limited staff profit sharing scheme purchases Republic Financial Holdings Limited shares to build its
stock for allocation in the annual profit sharing exercise. During the 2025 financial year, $137 million in advances were made
by Republic Bank Limited for purchase of shares to the staff profit sharing scheme (2024: $25 million). As at September 30,
2025, shares costing $159 million (2024: $88 million) remain unallocated from the profit sharing scheme.

Number of ordinary
shares (’000)
2025 2024

Balance brought forward 672 870
Add shares purchased 1,207 205
Allocation of shares (487) (403)

Balance carried forward 1,392 672

19 Operating profit

2025 2024

a Interest income calculated using the effective interest method
Advances 5,089 4,739
Investment securities 936 894
Liquid assets 510 503

6,535 6,136

b Interest expense calculated using the effective interest method
Customers’ current, savings and deposit accounts 834 773
Other fund raising instruments and debt securities in issue 207 231
Other interest bearing liabilities 4 36
Finance cost on lease liability – Note 8 (b) 28 30

1,073 1,070