Financial Reports
Banking & Insurance

CGI reports loss of almost BBD$1 million in 2016

CGI’s gross insurance premiums written in 2016 totaled $42.7 million, about five million dollars less than in the previous year.

By

Patrick Hoyos

on

June 14, 2017

Financial Reports
Banking & Insurance

BSE says ICBL stock increased the most in 2016

In its just-released Year-end Report for 2016, the BSE said that besides ICBL, only four other securities experienced share price appreciation greater than 15%.

By

Patrick Hoyos

on

June 14, 2017

Mergers & acquisitions
Banking & Insurance

For Alexandre Gabriel, rum is an uplifting experience

"The idea here is not quantity, it’s quality. That’s what my team and I have dedicated our working life to, so that’s what we want to do here, also with West Indies Rum Distillery," says new owner Alexandre Gabriel, who is the head of the Compagnie de Bonbonnet, which owns Maison Ferrand in the Cognac district in France.

By

Patrick Hoyos

on

June 14, 2017

Finance and Lending
Banking & Insurance

Ater third month, start-up lender Carilend says it's going well

Carilend says their “average” Borrower is borrowing around $8,600 for between three and four years at an average interest rate of just over 11%.

By

Patrick Hoyos

on

June 14, 2017

Financial Reports
Banking & Insurance

First Citizen's bank concerned about Barbados' recent debt downgrades

“The recent sovereign downgrades in Barbados by both Moody’s and S&P, as well as its high debt to GDP ratio, remain a major concern to us, said chairman Anthony Smart.

By

Patrick Hoyos

on

June 14, 2017

Caribbean Business
Banking & Insurance

GHL reports fall in net profit of 2% to end of Q3 2017

But net income from insurance underwriting were almost 50% below its 2016 level

By

Patrick Hoyos

on

June 14, 2017

Insurance
Banking & Insurance

In 2014, NIS' total expenditure surpassed income for the first time since 1997

The National Insurance Fund’s increasing exposure to Government debt has become more pronounced , according to the 15th Actuarial Report

By

Patrick Hoyos

on

June 14, 2017

From the financial reports
Banking & Insurance

GEL reports marginal increase in net profit for fiscal 2017

The losses incurred by Sagicor General due to settling claims from the hurricane wiped out GEL’s Share of Income from Associates, which was negligible at $17,000 compared to just over $4 million the previous year.

By

Patrick Hoyos

on

June 14, 2017

From the financial reports
Banking & Insurance

In 2017, Massy Group net profit fell 23%

However, according to Chairman Robert Bermudez, the Group remained “financially strong with market leading positions in its core industries,” and with Third Party Revenue growing by 2%

By

Patrick Hoyos

on

June 14, 2017

Caribbean Business
Banking & Insurance

Sagicor Group reports good performance for FY2017

The group’s net income was US $115.3 million, six million dollars higher than the US $109.3 million earned in the prior year.

By

on

Finance and Lending
Banking & Insurance

Decline in value of assets hits Consolidated's bottom line hard

A write-down of potential bad loans was the main reason for the fall in the CFC’s net profit from $4.3 million in 2016 to $2.9 million last year.

By

Patrick Hoyos

on

June 14, 2017

Banking & Insurance

Most credit card debt owed by individuals, CBB report finds

The number of credit cards in Barbados jumped by more than 40 percent between 2015 and 2017.

By

BSJ News Desk

on

April 27, 2018

Financial Reports
Banking & Insurance

“Conservative impairments” reduce Consolidated Finance's profits 2018

Income before the write-offs was $4.7 million, and and tax credit of $4.8 million left the company with a small profit of just under half a million dollars for the fiscal year.

By

BSJ News Desk

on

April 27, 2018

Banking & Insurance

Sagicor improves performance, but takes US$99m loss on GoB debt

Group net income was US $103.0 million, compared to US $116 million in the prior year.

By

BSJ News Desk

on

April 27, 2018

Finance and Lending
Banking & Insurance

Trust Loan Fund approving loans quickly, say officials

It's made just over 350 loans with over 100 more almost ready for approval,

By

BSJ News Desk

on

April 27, 2018

Finance and Lending
Banking & Insurance

Banking on the code

Banking association president, Donna Wellington, said there was “no shortage of bankers’ jokes,” and bankers in Barbados were often “targeted with the ire of critics.”

Finance and Lending
Banking & Insurance

Scotia merging Holetown branch with Warrens branch

However, the bank will maintain an ATM at Rubis Sunset Crest in Holetown.

By

BSJ News Desk

on

April 27, 2018

Finance and Lending
Banking & Insurance

Banking for the rest of us

There was a time when branch banking was promoted as proof of a bank spreading its wings out into the community.