In 2015, Ansa Merchant Bank Limited (AMBL) achieved increases in profit, assets and earnings per share (EPS) have all increased.
The bank's annual report, which has been posted on the T&T Stock Exchange, shows that EPS grew from $2.49 last year to $2.89 this year, assets grew by 1.7 per cent from $6.6 billion to $6.7 billion and profit before tax increased by 13.4 per cent from $262.2 million last year to $297.3 million.
In his report to shareholders, chairman Dr Anthony N Sabga said: "This year was not without challenges, but they were mainly external due to the effects of global market volatility."
Noting that the T&T economy expanded marginally by just 0.43 per cent last year and is expected to contract by 2 per cent this year, Dr Sabga said AMBL has "cautious but ambitious plans for the future."
He said: "Going forward, we plan to acquire CFC, our sister financial institution in Barbados, which we feel will be strengthened by our expertise.
We will also launch our wealth management service which will target prosperous individuals and families who could benefit from our expertise, as we help them to prepare for a legacy of wealth."
He said despite the global volatility, the bank has benefitted from prudent risk-management, diversification of its revenue sources, and a business model designed to withstand the cyclical nature of the local and global economy.
"In the coming year, with the anticipated protracted period of energy price weakness, the Government of The Republic of Trinidad and Tobago may be forced to curtail its spending which could ripple through the economy, and inevitably touch our business and our clients," Dr Sabga said.
"We are aware of this economic reality, but do not anticipate any significant shocks in our performance and we intend to use this difficult time to partner with our clients, as we do in all economic cycles."
AMBL managing director Gregory N Hill said the bank's profit before taxation of $297.3 million was the second highest in its history.
"The board of directors has approved a final dividend of $0.85 which brings the total dividend to $1.05–a 5 per cent increase over the 2014 dividend and the highest full year dividend to be paid to shareholders in the bank's history," he said.
Hill said AMBL is very well capitalised and its balance sheet is "strong and well-poised to be resilient against the economic headwinds which are anticipated for 2016 and beyond, while allowing us the flexibility to maximise on opportunities which may exist in the marketplace."