REPUBLIC BANK LIMITED
26
OUTLOOK
We expect economic conditions to continue to be challenging
in the approaching year despite the forecast of slow recovery
in the world economy, which is expected to improve the
prospects for the economies of the Caribbean. Barring any
unexpected event, we are confident that the current level of
profitability will remain stable.
While the 2014 fiscal was challenging for all entities within
the Group, we were able to improve our profitability due to the
loyalty and dedication of the management and staff across the
Group. I thank each of them for their outstanding service to the
organisation.
The performance of the Bank’s acquisition of 40% of HFC
Bank (Ghana) Limited in 2013 was in accordance with our
expectation. We are in the process of working through the
legal issues surrounding the mandatory takeover bid for the
remaining shares.
I also thank the Board of Directors for their sound guidance.
Finally, I thank each and every customer and shareholder of this
Bank, for your belief in us and your continued loyalty.
ManagingDirector’sDiscussionandAnalysis
