Georgetown: Citizens Bank Guyana Inc. recorded an increase in revenue of $421M in 2012. The Banks DIH 2012 Annual Report noted that the 51% owned subsidiary increased its revenue from $2.458 billion to $2.879 billion, an increase of $421.0 million or 17%. Profit after tax was $922.0 million as compared to $805.0 million, an increase of $117.0 million or 15%.
Group Chairman, Clifford Reis said the improved profitability was due to increased net interest income and prudent management of the Bank's corporate objectives. The total assets increased by $3.0 billion from $35.0 billion to $38.0 billion or 9%. Loan assets increased by 14% over the previous year to $21.5 billion. Deposits also increased from $30.6 billion to $32.2 billion, an increase of $1.6 billion or 5%. Earnings per share were $15.5 compared to $13.5 the previous year.
The Bank has four full service branches, providing both retail and corporate banking services, constitute the nation’s fourth largest branch network
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