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Sagicor Bank sees increase in revenue

There was an increase in revenue and profit at Sagicor Bank during the January to March quarter.
 
Its parent company Sagicor Group Jamaica says the bank contributed net profits of $363.7 million during the three months, an improvement over the amount recorded in 2018.
 
Revenues were up 20 per cent at just over $3-billion, driven by business expansion, especially payments channels and the loans portfolio.
 
Sagicor Bank says it also benefited from trading gains during the period.
 
Loans and advances, net of  provision for loan losses, were $71.7 billion, 16 per cent higher than the March 2018 balance.


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