Republic Financial Holdings Ltd. (RFHL) Supports Fight Against COVID19

Port of Spain, Trinidad, Wednesday, 1 April 2020: Republic Financial Holdings Limited has announced that the Group will be making a contribution of the equivalent of US$2 million, collectively across all of the territories in which it operates, namely, Trinidad and Tobago, Grenada, Guyana, Barbados, Ghana, Suriname, Cayman Islands, St. Lucia, St. Vincent & the Grenadines, St. Kitts & Nevis, St. Maarten, Anguilla and Dominica.

In making the announcement, President & CEO of the Group Nigel Baptiste, stated that “The full extent of the human tragedy that is unfolding before our eyes is epochal. While the Group is committed to helping our clients survive the economic impact, there is so much more that is needed to be done at the society level. No country is immune from this virus and given our preference for open economies, we all must be interested in what happens elsewhere. Management of this virus requires global collective responsibility”

The pledge of the equivalent of US$2 million across all its territories, falls under the Bank’s Power to Make a Difference programme, and is being specifically targeted to address some of the key immediate requirements in the fight against COVID-19. The funding is targeted to assist with the purchase and provision of critical needs such as ventilators, PPE equipment, testing kits, food and supplies for the health care workers as well as supporting the all-important social distancing messages.

Members of the Republic Group have already taken numerous steps to safeguard the wellbeing of their clients and staff, while ensuring the provision of essential banking services. And the Group has also reached out to its clients to provide cash flow relief to those affected by the disruption brought about by the COVID-19 pandemic.

Of this total, an amount of TT$5 million has been earmarked for Trinidad and Tobago. Baptiste, who is also the Managing Director of Republic Bank Limited remarked that “While there is no good time for a crisis such as this, it comes at a particularly bad time for the Trinidad and Tobago economy and for the public purse. There is much that needs to be done and the Government can realistically only afford to finance a fraction of what is needed. We are hopeful that our contribution will not only assist in reducing the number of cases (critical or otherwise) in Trinidad and Tobago but also inspire generous contributions by others in the corporate community.”

The Group recognises the dynamic nature of the situation and remains committed to a continuous assessment of its actions and responses to ensure that the best interests of its staff, clients and communities are served.