Mr Regenvanu said, “2019 saw a reduction of 36% in net profit to Vt186.5m. The decrease was mainly a result of the softening economic position in Vanuatu and also an increase in operational expenditure in the business.”
Deposits from customers increased by 6.4% to Vt16.3b while the loan portfolio remained relatively stable at Vt9.6b.
The total Income decreased by Vt33m to Vt1.129b.
The majority of this decrease was from Non Interest Income.
