By Shannon Totaram
Banks DIH’s Linden branch has achieved a significant increase in profits for the fiscal year 2023, marking it as the best-performing branch within the company.
During the recent shareholders’ meeting held at the Watooka Guest House, shareholders were informed of Banks DIH LTD’s outstanding performance, particularly highlighting the remarkable achievements of the Linden branch.
Linden’s Branch Manager, Sean Grant, reported a substantial profit surpassing $200 million for the year, contributing significantly to the company’s overall performance.
The branch recorded revenues of approximately $1.1 billion, representing an impressive increase of $229 million in profits compared to the previous financial year.
Chairman of Banks DIH LTD, Clifford Reis, commended Grant’s exceptional leadership and management skills, presenting him with the Chairman’s trophy for the best branch performance in 2023.
Reis praised Grant’s commitment to the company, noting his instrumental role in generating revenues exceeding $1.9 billion and delivering a profit of over $63 million.
The company’s overall performance for 2023 reflected a substantial increase in profit before tax, reaching $14.509 billion compared to $13.398 billion in 2022.
Additionally, profits distributed to shareholders after tax surged from $8.395 billion to $8.970 billion.
Reis also highlighted successes across various sectors within the company, including the brewery’s achievement in the Guinness league of excellence and extensive training initiatives for workers, including fire marshals.
Furthermore, Banks DIH’s subsidiary, Citizen’s Bank, reported a profit of $1.94 billion in 2023, demonstrating the company’s diversified portfolio and strong financial performance across multiple sectors.
As part of its commitment to corporate social responsibility, Banks DIH continued its tradition of giving back to the community, with monetary donations presented to Mackenzie Primary and Christianburg Wismar Secondary schools.
The impressive performance of the Linden branch underscores Banks DIH’s commitment to excellence and its pivotal role in driving economic growth and development within the region.