Grenada Co-operative Bank has reported a record after-tax profit of $32.4 million for 2024.

This marks an impressive 48% increase from the $21.9 million achieved in 2023 and solidifies the Bank’s position as a leading financial institution in Grenada for the 11th consecutive year. 

“Our success reflects the dedication of our team and our focus on delivering innovative solutions that meet the needs of our customers,” declared Chairman Darryl Brathwaite. 

The Bank’s continued profitability comes despite significant economic challenges, including rising inflation and the lingering impact of Hurricane Beryl.  

Grenada’s economic growth slowed to 3.9% in 2024, yet the Bank thrived by focusing on digital transformation and expanding services for small and medium-sized businesses. 

The Bank launched a new Micro, Small, and Medium-sized Enterprises (MSME) Unit in May. It credited the initiative and strong credit risk management, contributing to a decline in non-performing loans to just 0.8%. 

Customer satisfaction remains a cornerstone of the Bank’s success, with surveys showing it as the number one choice for Grenadian households.  
Additionally, the Bank’s asset base grew by nearly 29% to $2.86 billion, further reinforcing its financial stability.