A trip down memory lane: Republic Bank Chairman, Ronald Harford, shares some of his experiences at the Bank, during the Launch of the Bank's 175th Anniversary Book, held last Thursday at the Hyatt Regency, Trinidad..
A gift for you: Republic Bank's Managing Director, David Dulal-Whiteway, presents former member of the Republic Bank Board of Director, Dr. Marjorie Thorpe, with a copy of the Bank's 175th anniversary book. Dr. Thorpe was a major contributor to the publication. Looking on is Republic Bank's Communications Officer, Avalene Harris.
Port of Spain, Trinidad, November 25, 2013: Expressions of pride and contentment, were etched on the faces of both management and staff of Republic Bank, as they launched their 175th commemorative anniversary book entitled, "A Proud Legacy of Service", before hundreds at the Port-of-Spain Ballroom, Hyatt Regency Trinidad, on Thursday November 21.
The book recaps a 25 year period from 1987 to 2012, and contains historic moments experienced by the Bank and its Subsidiaries (Grenada, Guyana, Barbados and Cayman Islands) through the eyes of staff, past and present.
Delivering the introductory remarks, Republic Bank's General Manager, Group Corporate and Communications, Anna-Maria Garcia-Brooks,noted that although the Bank faced some note-worthy battles in the corporate arena, there were also many victories which were recorded in the Bank's first book, "From Colonial to Republic".
"History is created every day by our actions, inactions and events taking place around us. As you would imagine, over the 25 years from 1987 to 2012, many more events have unfolded, history created and changes embraced, as we continued to serve the people of Trinidad and Tobago and the wider community," Garcia-Brooks said.
Taking the audience on a trip down memory lane, Republic Bank's Chairman, Ronald Harford, said that Republic Bank and the Catholic Church, were the only two organisations which have survived the longest in Trinidad and Tobago. He also shared some of the Bank's undertakings experienced over its 176 years of existence.
The book was produced by Paria Publishing and printed by Scrip J.
Some of the attendees at the event were; Deputy Governor of the Central Bank, Joan John, Former Managing Director of Republic Bank, Dunbar Mc Intyre, Chamber of Commerce representatives, and members of the Executive Team from the Bank's Subsidiaries.
Providing entertainment was soloist, Wendy Sheppard, who serenaded the audience with two renditions of "Memory" and "Hey Jude".
The book will be available at all Republic Bank branches at a cost of $400, with proceeds going toward The Republic Bank Literacy Fund for At-Risk Youth.
Republic Bank is proud of this publication and looks forward to sharing with the people of Trinidad and Tobago and by extension the wider region, history at its best.
Port-of-Spain, Trinidad: November 12, 2013: The Emancipation Support Committee (ESC) and Republic Bank African History Quiz and Spoken Word competition, got off toa thrilling start, as 22 Secondary Schools throughout Trinidad and Tobago, participated in the competition vying for one of the 12 spots in the quarterfinals. The competitions were held on October 19 and October 26 at the Committee's headquarters in Maraval.
Republic Bank, in its thrust to heighten public awareness of the contributions of Africans and celebrate our nation's heritage, has once again partnered with the ESC to execute this programme. Students were quizzed in four categories: Africans in Science and Technology, General Knowledge, Historical Events and Renowned Africans. Some individuals featured in these categories were: Walter Anthony Rodney (Guyana), Trinidad & Tobago's Anthony Martin, Dr. Louis Anslem Halsey Mc Shine, Bertram Marshall, Camille Waldrop- Alleyne and USA's Oprah Winfrey and Maya Angelou.
Speaking after advancing into the quarterfinals, Success Laventille Secondary School, team captain, Samantha Harley said, it was difficult revising all the names and years, but hard work paid off.
"We worked together every chance we got. We quizzed each other, so we are really happy that we are in and for the first time, it’s a plus." said the Form 5 student.
Although first time entrants to the competition, the students of Success Laventille, are confident that they will advance to the final round of the competition, which takes place on November 23.
Among the other schools going forward are: Barrackpore Secondary, St. Benedict’s College, St. Joseph’s Convent, San Fernando, Tranquility Secondary, Belmont Boys’ Secondary School, St. Francois Girls’ College, Arima Central Secondary School, Arima North Secondary School, Princes Town Secondary School and Siparia East Secondary. A face off for the final spot will be held between El Dorado West and San Fernando West Secondary. This promises to be an intense meeting, since both schools were finalist in last year’s competition and are battling for pride.
In the spoken word aspect of the competition, 15 Primary schools have taken on the challenge of showcasing their oratory and dramatic skills. Students will re-enact famous Anasi stories such as Anasi and the Spider and Anasi and the Talking Melon. They will all be competing for the Pearl Eintou Springer Challenge Trophy.
Judges at the competition were Dr. Claudius Fergus, UWI Lecturer, Tracey Wilson, Director Education ESC, One Piankhi, Historian and Wendy Mc Kenzie, History teacher. The competition is also being chaired by radio and television personality, Verne ‘Antix’ Extravour.
Through the Bank’s Power to Make a Difference Programme, Republic Bank remains committed to the development of our youth through education, sports and culture. We wish all the participants great success in the competition
Be viewing CNMG Channel 6, this November for the broadcast of the competition.
Port of Spain, Trinidad: November 7, 2013: For the year ended September 30, 2013, Republic Bank Limited has recorded profit attributable to equity holders of $1.17 billion. This is an increase of $11.0 million or 1.0%, when compared with the corresponding period in 2012.
In announcing the results, Republic Bank's Chairman, Mr. Ronald F. deC. Harford, said, that he is particularly encouraged by the increase in loans and advances of $1.9 billion or 8.2% following an increase of 6.6% in 2012. Harford stressed that he remains optimistic that this growth will continue in 2014. Total assets stood at $57.6 billion at September 30, 2013, an increase of $6.0 billion or 11.6% over the prior period.
The Board of Directors has declared a final dividend of $3.00 (2012:$3.00) payable to shareholders on December 02, 2013. This brings the total dividend for the fiscal year to $4.25, in line with 2012.
Harford also noted that difficult economic conditions persisted in the tourism-dependent countries with profitability in Barbados declining by $23.3 million or 29.6% and losses being recorded in the Eastern Caribbean. The Group recorded a loss of $75.7 million on its investment in Eastern Caribbean Financial Holdings Limited, the parent company of the Bank of Saint Lucia, while impairment expenses of $53 million were booked as a result of the Government of Grenada defaulting on its indebtedness. This default contributed to our subsidiary in Grenada recording a loss of $18.2 million (RBL's share $9.3 million). Improved performance in Trinidad and Tobago and Guyana offset this decline, leading to a marginal increase in the Group’s overall profitability.
Harford added that, "the commodity-exporting economies of Trinidad and Tobago and Guyana are expected to drive our performance in the coming year, while tourism-dependent economies of Barbados and the Eastern Caribbean are expected to face ongoing challenges with little or no growth." He expressed his confidence that the Group’s current level of profitability will remain robust.
In expressing his thanks to management, staff and customers of the Group, for the Bank’s overall performance, Harford took time to welcome the newest member of the Republic Bank Group, HFC Bank (Ghana) Limited in which, the Group holds a 40% stake.
Carnbee, Tobago, September 10, 2013: Republic Bank opened the doors to its brand new branch at Lowlands, Tobago at a simple ceremony held on September 9. The new branch is located at the Corner Claude Noel Highway & Auchenskeoch Buccoo Bay Road, Carnbee, Tobago.
This ultra-modern state of the art building, houses the merged operations of the Carrington Street Branch, as well as the Corporate & Commercial Business Centre, which was relocated from the Main Street Branch. Customers in Scarborough can therefore, continue to utilize the Blue Machine which will remain at the Main Street location.
Republic Bank’s Lowlands, Area Manager, Allison Cooper was on hand to welcome customers to the Branch.
This spacious and comfortable branch will provide our Tobago customers with a safe, convenient and ample parking facility, two new Blue Machines, night-safe facilities and wheel chair access for differently-abled persons. This new branch is just one of Republic Bank’s many expansion initiatives, geared towards excelling in its core value, to provide to the people of Trinidad and Tobago superior Customer Service.
Prayers and blessings were presided over by Father Hilton Bonas, representative of the Inter-Religious Organisation.
Republic Bank is pleased to bring this exciting banking experience to the people of Tobago and looks forward to serving its customers better in this modern environment.
Accra, Ghana: Monday July 29, 2013: Republic Bank Limited, headquartered in Trinidad & Tobago, currently holds 32.02% of the shares of HFC Bank Ghana Limited, making Republic Bank the largest single shareholder of HFC Bank. Republic Bank initially purchased an 8.9% stake in HFC in December, 2012, later increasing its investment to 32.02%, following the acquisition of shares previously held by the Aureos Africa Fund. Both of these share purchases were undertaken with the full knowledge and agreement of the board of directors of HFC Bank.
In collaboration with HFC Bank, Republic Bank sought from the Ghana SEC an exemption from the requirement to make a mandatory takeover offer at this time. The SEC declined to grant the exemption and the Bank continues to have discussions with both regulators about the way forward.
Republic Bank has also been in discussions with the Bank of Ghana, as regulator of the financial sector there, to ensure that it is fully compliant with the regulatory framework of Ghana's financial sector.
Republic Bank Limited is the largest and most profitable independent bank in the English-speaking Caribbean, having served the region for 176 years, and has assets in excess of US$8.6 billion and profit after tax of US$185 million as at September 30, 2012. Its total shareholders' equity is in excess of US$1.23 billion, and is a well capitalised financial institution, with a capital adequacy ratio of 30% versus the required 8% for banking institutions.
Republic Bank has played a significant role in the oil and gas sector in Trinidad and Tobago and through its investment in and collaboration with HFC Bank, intends to bring that expertise and skill to Ghana for the benefit of this country's energy industry and ultimately the people of Ghana. The mortgage market in Trinidad and Tobago is very well developed and Republic Bank continues to play a major role in the provision of mortgages to facilitate home ownership in the Trinidad and Tobago market, as well as in the other Caribbean territories of Barbados, Guyana and Grenada, where the Bank operates subsidiaries. The Bank's market share in these markets is in excess of 40%. In fact its mortgage portfolio currently stands at more than US$600 million in Trinidad and Tobago alone. Republic Bank intends to use its vast expertise in this area to enhance the mortgage offerings of HFC and help to grow that bank's base, to the benefit of the home-owning public in Ghana.
Republic Bank's collaboration with HFC has, from inception, been cordial and open and continues to be so as it seeks to add value to the latter bank's offerings and ability to serve the needs of the Ghanaian public. Republic Bank has a proud legacy of service in all markets in which it serves and every acquisition and merger in which it has engaged, has created value for all stakeholders, including its customers and the people of the respective country. In fact, Republic Bank's support of its Caribbean subsidiaries, post acquisition, has resulted in all cases in market share growth and increased profitability.
Republic Bank continues at this time to engage in discussions with the SEC and the Bank of Ghana regarding the possibility of a waiver of the mandatory offer, but is prepared and able to make an offer for all of the remaining shares in HFC Bank, should it be mandated to do so by the regulators.
Georgetown, Guyana: July 18, 2013: Republic Bank (Guyana) Limited has announced the appointment of Mr. Nigel Mark Baptiste as Chairman of the Bank's Board of Directors. Mr. Baptiste is currently Executive Director of Republic Bank Limited, Trinidad. He replaces Mr. David Dulal-Whiteway, Republic Bank's Managing Director, who served as Chairman of the Guyana operations since 2005 and was a director since 2002. Mr. Dulal-Whiteway continues to maintain a keen interest in Guyana even as he broadens his focus on advancing the Republic Bank Group's international expansion. Under his leadership, Republic Bank Guyana increased and modernised its branch network, expanded its community involvement through its flagship social investment programme, the "Power to Make a Difference" and experienced an increase in profitability of more than 250%.
Mr. Baptiste is well known to the Guyanese community, having previously served as the Managing Director of Republic Bank (Guyana), then NBIC from 1999 to 2002, following which, he returned in 2003 to serve as a Member of the Board of Directors. A Trinidad and Tobago National Scholarship winner, Mr. Baptiste holds a Master of Science degree in Economics from the University of the West Indies, St. Augustine and brings to the chairmanship extensive experience in regional banking and finance.