Page 172 - RFHL ANNUAL REPORT 2025 ONLINE_NEW

170 • 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.

19 Operating profit (continued)

2025 2024

c Other income
Fees from trust and other fiduciary activities 345 315
Credit card fees 372 326
Other fees 637 616
Net exchange trading income 586 551
Dividends 6 5
Net gains from investments at fair value through profit or loss 2 1
Net (losses)/gains on derecognition of financial instruments (1) 9
Other operating income 310 278

2,257 2,101

d Operating expenses
Staff costs 1,773 1,611
Staff profit sharing 223 206
Employee benefits pension and medical contribution 69 54
General administrative expenses 1,338 1,256
Audit fees 30 28
Professional fees paid to audit firms 4 3
Other lease expenses 10 13
Property-related expenses 216 208
Depreciation expense – Note 7 348 345
Depreciation expense on right-of-use assets – Note 8 (a) 89 84
Advertising and public relations expenses 133 165
Intangible amortisation expense – Note 9 (b) 38 41
Directors’ fees 21 20

4,292 4,034

20 Credit loss expense/(recovery)

2025 2024

Advances 214 140
Debt instruments measured at amortised cost 40 (44)
Other assets (89) 13

165 109