'Chance' 20 per cent loan default mark reached

Fri, Sep 3rd 2010, 12:00 PM

By NEIL HARTNELL Tribune Business Editor THE Clearing Banks Association's (CBA) head yesterday told Tribune Business there was "a chance" commercial bank loan delinquencies could break the 20 per cent mark, adding that increasing uncertainties over the global economic recovery had prompted Bahamian institutions to extend their stress testing models "well into 2012". Paul McWeeney, who is also Bank of the Bahamas International's managing director, told this newspaper that he and other Bahamian commercial banks were also expecting "a spike" in loan delinquencies at end-August due to borrowers diverting funds to 'Back to School' needs. He added that it ...

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