Sagicor Bank Jamaica Limited Reports increase in Profit for 2018

• For the year ended December 31, 2018, the bank recorded net profit of $2.80Bn (EPS: $0.66), which was $1.02Bn or 57% higher than the corresponding period of 2017.

 

• Notably, there was an 8.7% increase in revenue from $6.8Bn in 2017 to $7.4Bn which was due mainly to an improvement in fees and commission and continued net gains on foreign exchange trading.

 

• In particular, the company’s operating costs for the period was $9.1Bn, which represented an increase of $693.6Mn or 8% over the corresponding period of 2017.

 

• Sagicor’s Banks’s cumulative redeemable preference shares have remained unchanged at $1 and has a dividend yield of 8.25%.

(Source: Sagicor Bank Jamaica Financials)