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 [...]
RBC touts 100 mil. in commercial loans in 2017
January 09, 2018
RBC touts 100 mil. in commercial loans in 2017
Last year Royal Bank of Canada (RBC) saw an uptick in its business clients borrowing to expand their companies, the bank's Head of Business Banking for the Northern Caribbean Kevin Darling said recently, adding that RBC did $100 million in commercial loans. Darling said RBC [...]
September 15, 2017
IMF: Commercial banks capitalized, still reluctant to lend
Commercial banks in The Bahamas are "reluctant" to lend, given The Bahamas' low growth environment, despite those banks being well capitalized, the International Monetary Fund (IMF) pointed out Wednesday.
In its "Staff Concluding Statement of the 2017 Article IV Mission", the IMF states that The Bahamas has struggled with a stagnant economy since 2012.
However, under these conditions, commercial b...
Non-performing loans up 11.7 million in November
December 28, 2016
Non-performing loans up 11.7 million in November
Non-performing loans increased by $11.7 million in November, according to The Central Bank of The Bahamas' (CBOB) Monthly Economic and Financial Developments (MEFD) November 2016 report that was published recently.
However, banks' credit quality indicators "continued to improve", as private sector arrears contracted by $18.5 million (1.7 percent) to slightly over $1 billion in November.
In additio...
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.
Where does the buck stop
January 23, 2015
Where does the buck stop
A lack of administrative accountability seems to be plaguing Prime Minister Perry Christie's government. Several telling examples featured in the news this week.
August 09, 2011
CREDIT TO THE PRIVATE SECTOR REBOUNDS BY 37.2 MILLION
CREDIT to the private sector rebounded by $37.2 million from last year's $75.6 fall off, the Central Bank revealed in its monthly Economic Financial Developments for June.
According to the Central Bank, this development was primarily explained by a $26.4 million recovery in commercial loans, from the $55.6 million contraction a year ago.
"Further, growth in mortgages more than doubled to $24.6 m...
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 [...]
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