The Guyana Bank of Trade and Industry (GBTI) has announced that it has a recorded a first quarter profit of $1.2B.
In a release the bank said its solid first quarter performance was due to strong profitability, disciplined growth and robust capital levels.
According to the Bank, it also delivered a 25.2%-year year-over-year increase in profit after tax and a rise in earnings per share which reflects the strength of its business model and execution of its long-term strategy.
“Our return on Capital employed stood at 14.6%, underlying our focus on efficient capital deployment and sustainable returns. Strong client engagement continued to be a growth driver, with total deposits increasing to $235B a 32% rise compared to the prior year,” the GBTI noted.
GBTI said continued growth is as a result of the trust placed in it by its clients and the attractiveness of its product offerings and relationship driven approach.
Looking ahead, the Bank said it is excited about the opportunities ahead as it remains committed to driving consistent, profitable growth, as well as strengthening its digital and client capabilities and upholding the financial discipline that has define its services.
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