Bank beats profit forecast by 1.5 million

Mon, Oct 18th 2010, 11:00 PM

By NEIL HARTNELL

Tribune Business Editor

Bank of the Bahamas International exceeded its internal net income projections for its 2010 fiscal year by about $1.5 million, Tribune Business was told yesterday, its managing director adding that the BISX-listed financial institution had enough capital "to support the bank for the next five years.

Unveiling net income of $7.7 million for the year to June 30, 2010, Paul McWeeney said the 13.1 per cent growth achieved in its $629 million loan portfolio helped to counteract the more than-$7 million rise in gross loan loss provisions, enabling Bank of the Bahamas International's total revenues (interest income, plus fees and commissions) to incr ...

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