Bank’s profit announced

THE BSP Group achieved sound results in 2015 with a net profit after tax of K531.9 million ($F447.8m).

Bank South Pacific Ltd chairman Sir Kostas Constantinou, OBE, also announced the final dividend for the year ending 2015 yesterday.

Sir Kostas said the net profit for the group had increased by K24.5m ($F20.06m) on the 2014 result.

The directors therefore have determined a final dividend of 63 toea ($F0.5304) for 2015 and the final dividend along with the 22.5 toea ($F0.1957) interim dividend paid in October 2015 brings the total dividend payment to 85.5 toea ($F0.7261) per share, giving a yield of 11.4 per cent on the current share price of K7.50 (FJD $6.31).

The payout ratio for 2015 of 75.15 per cent, which is up 5.07 per cent on 2014’s ratio of 70.08 per cent and up on 2013’s ratio at 70.77 per cent.

Sir Kostas also announced the Group’s results for the first quarter of 2016.

The quarter 1 2016 profit after tax is at K143.7m ($F121.0m), which is K3m ($F2.5m) above that achieved in the last quarter of 2015.

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