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Financial results of the III quarter of 2009

November 2, 2009

Griffon Bank Limited has finished III quarter of 2009 with encouraging financial results.

Effective customer management programme of the bank resulted in increase of the total assets of the bank to XCD155,125,000.00 in the III quarter of 2009. Total assets of the bank in the III quarter of 2009 have increased by 225% compared to the II quarter of 2009. Unaudited net earnings of the III quarter of 2009 was XCD 434,264.00 compared to the results of XCD 329,930.00 for the first two quarters of 2009. Management is delighted with the performance of the bank in 2009 as despite the negative impact of the global financial crisis, Griffon Bank has managed to increase its customer base and achieve stable returns on its assets.

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