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First Citizens Bank, Independence Square, Port of Spain. - File photoFIRST CITIZENS Group Financial Holdings Ltd has reported a profit after tax of $989.6 million for the year ending September 30, an increase in profits for the same period last year, when it earned $956.9 million.
The financial figures come from a summary financial statement from the group for the period ending September 30, 2025.
The report said the group earned $2.1 billion in net income. It earned $2.46 billion in interest income but lost $359.9 million in interest expenses.
The group reported $54.4 million in impairment costs but got a credit impairment writeback on financial assets which contributed to the group reporting $1.3 billion in profit before taxes.
For the same period in 2024, the group earned $2.3 billion in interest income and incurred $290.5 million in interest expenses, resulting in a net income of $2 billion.
The group reported impairment costs valued at $13 million, but credit impairment writeback on financial assets was reported at $9.6 million. The impairment and the writeback contributed to a profit before tax of $1.2 billion.
First Citizens Group was one of the financial institutions that saw significant changes in its group for the year.
A new board of directors, led by Shankar Bidaisee, was elected for the group at special general meeting at the National Academy for the Performing Arts (NAPA) on October 8, replacing board members who had been at the group for more than ten years.
Deputy Group CEO Jason Julien was picked as Group CEO at the end of October.
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