Home  News Corporate News RBTT Group records half-year, pre-tax profits of US$74.3 million
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RBTT Group records half-year, pre-tax profits of US$74.3 million |
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Thursday, 09 November 2006 |
Peter J. July, Group
Chairman, RBTT Financial
Holdings Limited,
today announced another
profitable quarter for
the Group.
 PETER J. JULY
The Group posted pre-tax
earnings of US $93.4 million
and profit attributable
to shareholders of US $74.3
million for the half-year
ended September 30, 2006.
These results are 6 per
cent and 3 per cent respectively
higher than in the
prior year. Profit attributable
to shareholders for the
second quarter was US
$39.3 million, an increase
of 12 per cent, compared
with the US $35 million
earned in the first quarter
ended June 30, 2006.
The Group’s core business
has continued to grow
across all its markets. For
the six month period under
review, total assets grew by
US $476 million or 7 per
cent. Loans and advances
increased by US $240 million
or 8 per cent, with US
$156 million of the growth
being realised in the second
quarter.
Deposits grew by US $430
million or 11 per cent during
the half-year, with US
$307 million of the growth
coming in the second quarter.
The Chairman stated
that as anticipated in his
report on the first quarter’s
performance, earnings
from RBTT’s investment
banking business also
improved in the second
quarter.
The Group is on target
with its project to upgrade
its banking application
systems, and it expects to
achieve incremental
improvements in customer
service as the project progresses.
The Chairman also noted
that with continuing
favourable business conditions
in the major markets
in which RBTT operates,
the outlook for the remainder
of the year is for an
improved rate of profit
growth.
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