The National Investment Fund (NIF) reported a 20 per cent increase in revenue during the first half of the year ending on June 30, in its unaudited financial statements published in an advertisement in local newspapers on August 13.
The financial report said the NIF earned $69.3 million for the period, as compared to $55.04 million the year before.
Chairperson Jennifer Lutchman said the increase in revenue came from dividends from Republic Financial Holdings Ltd and West Indian Tobacco Company Ltd.
The NIF’s statement of changes in equity indicated that it had $4.3 billion in stated capital and accumulated and reserve funds as at June 30, 2024.
For the same period last year, the NIF reported total capital of $5.5 billion, but for the year ending on December 31, 2023, it reported $4.6 billion in assets.
On August 9 the NIF met its twelfth coupon payment on its series B and C bonds, as well as its first coupon payment on its NIF 2 bonds. The NIF said from February 2019-August 2024, it paid out $1.3 billion in coupon payments. On August 9, it paid $9 million in coupons to bondholders.
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