Barita Investments Limited (BIL) is reporting an unaudited after tax surplus of $3.7 billion for the nine-month period ended June 30, 2021. This represents an 83 per cent or $1.7 billion increase when compared with the comparative period in 2020.

Net operating revenue for the period under review was $6.7 billion, 77 per cent or $2.9 billion year-over-year increase.

Operating expenses also rose by 87 per cent to $2.4 billion. According to Barita in its report to shareholders, this was mainly attributed to staff costs, administrative expenses and continued investment by the company.

Net interest income for the nine-month period grew by 38 per cent to $1.2 billion, an outcome of the company’s focus on expanding its credit and fixed income portfolios, coupled with a 50 per cent year-over-year rise in repo liabilities.

Improvements in Barita’s fees and commission income, and foreign exchange trading and translation gains resulted in non-interest income of $5.5 billion.

Fees and commission income rose by 95 per cent to $2.7 billion, while foreign exchange trading and translation gains was $1.8 billion.

For the period under review, total assets totalled $84.2 billion, representing a $32 billion or 62 per cent increase over the previous comparative period.

Additionally, total shareholders’ equity as at June 2021 stood at $30.3 billion. This was mainly attributed to the injection of $13.5 billion of additional equity in the group through the September 2020 additional public offering, and an increase in retained earnings, as well as net dividends during the period.

Earnings per share as at June 2021 stood at $3.38, a 38 per cent increase when compared with the $2.45 recorded in the previous corresponding period.