Search results for : Loans Commercial
January 15, 2024
The Bahamas secures $500 million 10-year commercial loan via IDB guarantee
Well-known banker calls for more transparency on interest rates and guarantee conditions. NASSAU, BAHAMAS — The Bahamas has closed on a $500 million 10-year commercial loan leveraging a policy-based Inter-American Development Bank (IDB) guarantee the government has announced, with a well-known banker noting that its announcement lacked several vital details such as the interest rate [...]
December 21, 2015
10,000-plus consumer loan applications in Q2, versus 337 commercial
The Central Bank of The Bahamas has reported that consumer loans were far and away the majority of loan applications in the second quarter of 2015.
Commonwealth Eyes 'Fourth Best Year Ever'
November 20, 2011
Commonwealth Eyes 'Fourth Best Year Ever'
COMMONWEALTH Bank is targeting "the fourth best year we've ever had or better" in 2011, its managing director saying that a strong write-off policy and product mix weighted towards consumer loans had enabled it to mitigate the recession's worst effects.
Speaking after the BISX-listed financial institution had unveiled a 30.7 per cent net income decline to $9.858 million for the 2011 third quart...
Bad loan recovery to take 2-3 years
July 18, 2011
Bad loan recovery to take 2-3 years
It will take "two-three years at a minimum" for the Bahamian commercial banking industry to work out its $1.194 billion total bad loan portfolio and reduce this to close to pre-recession levels, Tribune Business has been told.
WHOLLY UNACCEPTABLE: Opposition rejects delay in releasing details of $500 million loan
February 08, 2024
WHOLLY UNACCEPTABLE: Opposition rejects delay in releasing details of $500 million loan
NASSAU, BAHAMAS — The Opposition continues to demand transparency and full disclosure regarding a recent $500 million Inter-American Development Bank (IDB)-backed loan, with its Shadow Finance Minister calling it "wholly unacceptable" to delay the release of those details. In mid-January, the government announced what it described as a "landmark transaction" and the country's largest credit-enha...
February 07, 2024
Government to provide full disclosure on $500 million IDB backed loan says Halkitis
NASSAU, BAHAMAS — Economic Affairs Minister Michael Halkitis said that the government will fully disclose all details regarding the $500 million commercial loan secured via an Inter-American Development Bank guarantee last month, as mandated by law, noting that these details will be included in the upcoming quarterly debt statistical report. The Opposition has continued to [...]
Opposition: Government stifling economic recovery with tax burden and bureaucratic roadblocks
January 31, 2024
Opposition: Government stifling economic recovery with tax burden and bureaucratic roadblocks
NASSAU, BAHAMAS- The Opposition contends that the country's economic recovery has lost momentum due to what they describe as additional tax burdens and bureaucratic roadblocks imposed by the Davis administration. Opposition Shadow Finance Minister Kwasi Thompson in a statement the recent highlighted the economic growth projection by the Central Bank, which forecasts the country's economic [...]
Major Transformation of MyBTC Mobile App
January 26, 2024
Major Transformation of MyBTC Mobile App
BTC is committed to constantly evolving its customer care and creating solutions to make customer interactions as seamless and easy as possible. The company has introduced the upgraded My BTC mobile app, with tons of new features, and new ones on the way.
Opposition wants answers over $500 million loan
January 16, 2024
Opposition wants answers over $500 million loan
NASSAU, BAHAMAS — The Opposition is also voicing concern over the government's recent announcement regarding a $500 million commercial loan secured via an Inter-American Development Bank (IDB) guarantee. Kwasi Thompson, the Opposition's Shadow Finance Minister, said that the Ministry of Finance's statement on the matter "fails any reasonable measure of transparency and clarity." "The Governmen...
The Bahamas closes a $500m international loan benefitting from a first-loss IDB guarantee
January 12, 2024
The Bahamas closes a $500m international loan benefitting from a first-loss IDB guarantee
The Commonwealth of The Bahamas successfully closed a $500 million 10-year international commercial loan benefitting from a first-loss Policy-Based Guarantee provided by the Inter-American Development Bank (“the IDB”, S&P [AAA/Stable]) and arranged by Banco Santander, S.A. (New York Branch) as Global Coordinator and Mandated Lead Arranger (“Santander”, S&P [A+/Stable]).
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