First Citizens Group has demonstrated formidable financial resilience with an after-tax profit of $989.6 million for the fiscal year concluding September 30, 2025. The Trinidad-based financial institution revealed total assets soaring to $49.167 billion, marking another year of substantial growth and stability.
Audited by PricewaterhouseCoopers, with engagement partner Sean Ramirez overseeing the process, the consolidated financial statements received an unmodified audit opinion on December 8, affirming their accuracy and compliance with accounting standards. The board officially approved these results on December 4.
The group’s pre-tax profit climbed significantly to $1.365 billion, up from $1.270 billion in 2024. Revenue streams showed positive momentum with net interest income reaching $2.101 billion and fee and commission income growing to $552.9 million. Total net revenue expanded to $2.875 billion, bolstered by increased other income.
Basic earnings per share stood at $3.93, calculated on a weighted average of 251.35 million ordinary shares. The balance sheet exhibited robust growth with total loans before allowances climbing to $24.198 billion. Net loans settled at $23.780 billion after accounting for a loan-loss allowance of $417.6 million.
While non-performing loans experienced a slight increase to $776.6 million from $746.2 million the previous year, impairment expenses rose to $54.5 million from $13.7 million in 2024. Customer deposits, the group’s primary funding source, grew to $30.895 billion.
Shareholders’ equity strengthened to $9.131 billion, supported by annual profits and a positive $149.8 million movement in other comprehensive income. This included an $86.6 million gain from re-measuring the group’s defined benefit plan and fair value gains on equity instruments.
PwC highlighted the valuation of expected credit losses on credit-impaired demand loans as a key audit matter. These loans totaled $647 million with an expected credit loss allowance of $128 million, requiring significant judgment in collateral assessment and recovery estimation.
Business segment performance varied: retail banking earned $447.1 million, corporate banking $635.4 million, treasury and investment banking $241.1 million, and trustee and asset management $38.3 million. Group functions contributed $1.179 billion, collectively generating $2.917 billion in pre-tax profit before consolidating to $989.6 million after tax.
Operating costs remained substantial with administrative expenses at $854.9 million and other operating expenses at $634.3 million. Depreciation and amortization of intangible assets amounted to $102.1 million and $27.1 million respectively.
Liquidity metrics remained solid with cash and bank balances at $2.130 billion and short-term investments totaling $2.695 billion. Net cash and cash equivalents stood at $1.959 billion after deducting amounts owed to other banks. Statutory deposits with the Central Bank were $2.268 billion.
The group reported higher average interest rates on short-term deposits throughout the year. Equity method investments, including stakes in St Lucia Electricity Services Ltd, Term Finance Holdings Ltd and Infolink Services Ltd, totaled $285.2 million, generating $28.6 million in profit share.
Dividend distributions reached $608.1 million during the year. Treasury share activities reduced recorded share capital from $458.6 million to $427.3 million, while retained earnings closed at $6.402 billion.
PwC’s audit opinion confirmed that the financial statements ‘present fairly, in all material respects, the financial position of the Group as at 30 September 2025,’ validating the institution’s strong capital position and operational excellence.