By JAMMAL SMITH
Guardian Business Reporter
jammal@nasguard.com
The net income of banks operating in The Bahamas grew by 10 percent to$64.4 million in the first quarter compared to the same period last year, but a pair of financial experts say the increase shouldn't be interpreted as a breakthrough for financial institutions.
The figures were revealed in the Quarterly Economic Review recently released by the Central Bank of The Bahamas.
Former Minister of State for Finance James Smith toldGuardian Businessthe growth
in net income shouldn't be viewed as a massive improvement because progress made in previous years should be taken into consideration.
"The 10 percent net income increase ...

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