Express Business Filler #1

This week, we review the financial performance of FirstCaribbean International Bank Ltd (FCI) and Scotiabank Trinidad and Tobago Ltd (SBTT), for the first half of their respective financial years ended April 30. While both banks remained profitable, overall net profits were driven in opposite directions due to certain tax-related events.

FirstCaribbean International Bank Ltd FCI reported Earnings per Share (EPS) of TT$0.30 for the half year (HY) ended April 30th 2019, 11.8 per cent lower than the EPS of $0.34 recorded in HY 2018. The Bank’s performance has been impacted by the occurrence of various one-off events including a deferred tax asset write-off (TT$146.7m), incremental credit provisions of Barbados Government USD debt restructuring (TT$ 29.5m). 

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