"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.
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%.
“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.
But net income from insurance underwriting were almost 50% below its 2016 level
The National Insurance Fund’s increasing exposure to Government debt has become more pronounced , according to the 15th Actuarial Report
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.
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.
The number of credit cards in Barbados jumped by more than 40 percent between 2015 and 2017.
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.
Group net income was US $103.0 million, compared to US $116 million in the prior year.
It's made just over 350 loans with over 100 more almost ready for approval,
However, the bank will maintain an ATM at Rubis Sunset Crest in Holetown.