Search results for : Loans Commercial
December 01, 2017
Courtesy Call on Education Minister by Chinese Ambassdor
The Chinese Ambassador to the Commonwealth of The Bahamas, His Excellency Haung Quiguo, paid a courtesy call on the Minister of Education, The Honorable Jeffrey Lloyd at his office on University Blvd...
Nairn: Bahamas Development bank undercapitalized from inception, operationally inefficient
October 13, 2017
Nairn: Bahamas Development bank undercapitalized from inception, operationally inefficient
The Bahamas Development Bank's (BDB) poor performance is partly responsible for the lack of economic growth in this country, especially given commercial banks' hesitation to approve loans for small business, BDB Chairman Lynden Nairn said yesterday, adding that the bank has been mandated to improve [...]
The post Nairn: Bahamas Development bank undercapitalized from inception, operationally ineffi...
Rolle: 90 percent of Bahamians have poor savings
August 31, 2017
Rolle: 90 percent of Bahamians have poor savings
Governor of the Central Bank of The Bahamas (CBOB) John Rolle revealed yesterday that recent data shows that nearly 90 percent of deposit accounts held by residents in The Bahamas have less than $5,000.
The data, which is a part of Central Bank's ongoing surveys, suggests that there is a weak savings culture among residents in The Bahamas.
While speaking at a luncheon yesterday, Rolle said that th...
Moody's concerned over Bank of The Bahamas
August 28, 2017
Moody's concerned over Bank of The Bahamas
International credit ratings agency Moody's is keeping an eye on the government's actions regarding the outcome of Bank of The Bahamas' (BOB) latest attempt to shed toxic assets to the tune of $166 million.
While the ratings giant spared The Bahamas another downgrade on Friday, it changed the country's outlook from stable to negative.
The negative outlook was hinged on Moody's expectation that the...
August 15, 2017
Central Bank notes improvement in banks' profitability, credit quality
The Central Bank of The Bahamas' (CBOB) Financial Stability Report for December 2016 revealed that banks' credit quality improved in 2016, due in part to the financial institutions offloading bad loans and to the previous government's "modest" Mortgage Relief Program. The report also revealed that bank profitability was up 10.1 percent.
CBOB explained that a "significant gap remains" in non-perfor...
166 million of BOB's bad loans to go to Resolve
August 04, 2017
166 million of BOB's bad loans to go to Resolve
Bank of The Bahamas (BOB) has turned once again to Bahamas Resolve Ltd. to shed toxic loans. It was announced at the bank's annual general meeting (AGM) Wednesday night that $166 million would go to Resolve, as the bank continues to try to slow its floundering.
A release from BOB revealed that the government agreed to allow the special purpose vehicle, Resolve, to acquire the $166 million in impai...
August 04, 2017
Government to inject $166 million in Bank of The Bahamas First Minority nominated Director elected -First Minority nominated Director elected to BOB Board of Directors
The Government has agreed to allow the special purpose vehicle Bahamas Resolve Ltd. (Resolve) to acquire $166 million in impaired commercial loans from Bank of The Bahamas Limited, shareholders learned on Wednesday evening at the Bank?s Annual General Meeting held at Breezes Resort on Cable Beach....
Banks' bad debt provisioning up 25.4 million
August 03, 2017
Banks' bad debt provisioning up 25.4 million
Banks increased debt provisions by over $26 million last month, according to The Central Bank of The Bahamas' (CBOB) monthly economic report for June.
The report states that credit quality for banks improved "moderately" last month.
But despite the improvement, "banks still increased their bad debt provisioning by $25.4 million (5.3 percent) to $507.5 million".
"In addition, banks wrote off a tota...
Economy to grow at 'very mild pace' in 2016
December 28, 2015
Economy to grow at 'very mild pace' in 2016
The Central Bank of The Bahamas continues to be optimistic, projecting expectations that the Bahamian economy will "continue to grow at a very mild pace in 2016", despite the fact that total private sector loan arrears were higher in November than they were a year ago.
BOB: Accumulated deficit of 70.6M
January 03, 2016
BOB: Accumulated deficit of 70.6M
Following a second straight year of net loss, Bank of The Bahamas posted an accumulated deficit of $70.6 million as of June 31, 2015.
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