• Reliance average return on tangible equity for 2023 was 35.63, a 35.18% decline from 2022.
• Reliance average return on tangible equity for 2022 was 54.97, a 43.56% decline from 2021.
• Reliance average return on tangible equity for 2021 was 38.29, a 76.29% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.