Consumer loan repayments up 8.8m

Consumer loan repayments picked up by $8.8 million during the first nine months for the year according to the Central Bank of The Bahamas.
The improvement could be a sign that Bahamians are in a better position to handle their monthly commitments to the banks.
The figures were revealed in the Central Bank's Monthly Economic Financial Developments report for October, which revealed repayment improv...

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Loan loss provisions rise nearly 5 percent

A 4.9 percent increase in loan loss provisions by banks is "not surprising" to former Minister of State for Finance James Smith, who says the rise will continue to occur if employment levels don't improve.
"In many cases people became unemployed," Smith told Guardian Business yesterday. "And while they might have been able to handle the restructured payments for a couple of months, if they didn't ...

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November key to 1.135bn bad loan drop trend

By NEIL HARTNELL

Tribune Business Editor

A top Bahamian banking executive yesterday said a trend of improvement in the sector's non-accrual loan situation will be established if November produces the third consecutive month of decreases, the October figure having dropped by $18 million or 1.6 per cent to $1.135 billion. Yet he warned that it would take "two-three years" to reduce the "more than ...

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Cooper questions if terms of IMF's COVID pandemic loan were violated

While calling for the government to make public which companies received COVID-19 pandemic funds, Progressive Liberal Party (PLP) Deputy Leader Chester Cooper questioned yesterday whether the government violated the terms of the International Monetary Fund’s (IMF) rapid financing instrument (RFI) by not publishing the names of the beneficial owners of companies paid for pandemic-related goods an...

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Government approves conversion of Bahamas Development Bank bonds to loan with NIB

The government yesterday tabled a resolution for the conversion of $37 million in Bahamas Development Bank (BDB) bonds to a loan with the National Insurance Board (NIB)...

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140m still owed in student loans

MORE than $140m is still owed to the Education Loan Authority for its student loan programme, according to chairwoman Miriam Emmanuel.

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20m loan plan to help tackle violence in The Bahamas

THE Inter-American Development Bank has proposed a $20m loan project to increase citizen security and efficiency in the justice system in the Bahamas.

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20m loan to fight COVID

THE government and the Inter-American Development Bank have partnered in a $20m loan contract "to help reduce the morbidity and mortality caused by COVID-19 and to lessen its impact on public health".

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Central Bank: Loan arrears up 110.5M wrote off in 2020

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SBDC executive director: No guarantee some will not default on loans

Although more than $50 million in government funding has already been disbursed to small and medium-sized businesses since the start of the COVID-19 pandemic, Access Accelerator/Small Business Development Centre (SBDC) Executive Director Davinia Grant said yesterday she could not guarantee that some of those businesses will not default on their loans. Prime Minister Dr. Hubert ...
The post SBDC ex...

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