Record profits, growing total assets and 49% earnings per share growth mark a landmark year for the ANSA Merchant Bank Group — underpinned by resilience, technology and a deepened commitment to customers.
ANSA Merchant Bank Limited and its subsidiaries delivered significantly improved financial results, earning profit before taxation of $298.3 million for the year ended 31 December 2025, while growing consolidated total assets to $10.2 billion. Each of our business segments reported improved profitability, a testament to the continued resilience of our businesses supported by the expertise and commitment of our teams to our customers.
The increase in net operating profit was driven by a 31% year-on-year increase in consolidated net operating income, of $674.0 million, partially offset by a 14% increase in total operating expenses to $375.7 million. Net operating income in 2025 includes $76.7 million due to favourable mark-to-market movements on our investment portfolio. Our basic and diluted earnings per share (EPS) rose by 49% from $1.90 to $2.83 for 2025.
“Our Banking and Insurance businesses are well capitalised and positioned to continue delivering quality products and services to our customers while prudently managing risks.”
A. Norman Sabga, Chairman
Banking Services
Banking services, which consists of our Commercial Banking, Merchant Banking and Wealth Management businesses, maintained their focus on customer service by investing in, and leveraging technology to deliver the best customer outcomes. This continues to be our central focus, while ensuring consistent investment returns in a continuously evolving economic and geopolitical environment.
We launched our digital platform and mobile banking application in 2025 and will continue to enhance these services. We have deepened our relationships with our existing customers and continue to attract new customers. Our suite of ANSA mutual funds continues to deliver consistent returns for our unitholders. This controlled growth is being achieved while retaining our credit worthiness as evidenced by CariCRIS reaffirmation of AMBL’s credit ratings of CariAA and ttAA and a “Stable” outlook.
Insurance Segment
Our Insurance segment includes TATIL, TATIL Life and COLFIRE in Trinidad & Tobago, along with Trident Insurance in Barbados. Each entity demonstrated increases in net operating profit in 2025. The combined results of our core insurance businesses show an overall improvement of $27.1 million or 75% in the combined net insurance service result and net insurance financial result.
In 2025, TATIL’s “Financial Strength” and “Issuer Credit Rating” was reaffirmed at A-Excellent by international rating agency AM Best, which reflects its continued financial resilience.
Dividend & Future Outlook
The Board of Directors has approved a final dividend of $1.00 per share (2024: $1.00), bringing total dividends for the 2025 financial year to $1.20 per share (2024: $1.20). The final dividend will be disbursed on 26 May 2026, to shareholders on record as of 15 May 2026.
The market environment remains uncertain as geopolitical developments continue to shape the trading and investment landscape locally and internationally. Our Banking and Insurance businesses are well capitalised and positioned to continue delivering quality products and services to our customers while prudently managing risks. We have invested and will continue to invest in our technology, to meet the needs of our customers as we look to the future with optimism and excitement.
For another solid year’s performance, I wish to take this opportunity to thank our customers, Boards of Directors, Executives and our valued employees for their significant contributions in the past year. We also thank our loyal shareholders for their continuing investment.
A. Norman Sabga, Chairman
ANSA Merchant Bank Limited – Audited Consolidated Financial Statements for the year ended December 31st, 2025