RBTT records US $35m in after tax profit

Peter J. July, Group Chairman, RBTT Financial Holdings Limited, announced that the Group has achieved another quarter of profitable growth. For the first quarter of the current financial year, the RBTT Financial Group recorded after-tax profits attributable to shareholders of US $35 million, an increase of 6.5 per cent over the comparable quarter of the previous year. Diluted earnings per share for the period increased by 6.8 per cent to US $0.10.{{more}}

Total assets increased by US $67 million over the quarter, with loans and advances increasing by US $84 million, partially offset by a decline in the investment securities portfolio of US $18 million. Credit quality remained solid, with non-performing assets as a percentage of total assets improving from 2.2 per cent to 1.9 per cent.

The Group continues to reposition its balance sheet to take advantage of the shifting interest rate environment, and earnings momentum is expected to increase in the ensuing quarters as a result of a healthy investment banking deal pipeline, and the consistent growth in loans and advances evident in the current and previous two quarters.