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January 17, 2014

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BOB triples value of loan recoveries

Bank of The Bahamas more than tripled the value of recovered loan collateral to $3.5m during its 2022 financial year as a result of intensified focus on reclaiming distressed assets.

BOB chief: ‘Formula we don’t really want’

Bank of The Bahamas’ managing director says a shrinking loan book, combined with rising deposits and cash, is “a formula you don’t really want” for sustained long-term profitability.

BOB takes $6.3m hit over Gov't downgrade

Bank of The Bahamas' was forced by the Moody's 'junk' downgrade of the Government's sovereign creditworthiness to take a $6.3m provisioning hit, its managing director said yesterday.

Govt in $100m 'provision' over BOB's bail-out

The government yesterday revealed it has taken a $100m “provision” in anticipation of the Bank of the Bahamas bail-out vehicle recovering just 40 percent of the toxic loan sums transferred to it.The Fiscal Strategy Report 2019, tabled in the House of

Leno targets $800m assets via BOB deal

Leno Corporate Services is aiming to close 2019 with over $800m in assets under administration following today’s expected completion of its Bank of The Bahamas trust acquisition.Sean Longley, Leno’s founder and president, told Tribune Business yester

BOB: $10m claims were ‘abandoned’ by default pursuers

Bank of The Bahamas has accused companies jointly owned by an ex-Cabinet minister’s family trust of “already abandoning” claims worth $10m in their bid to enforce a default judgment.

Over 25% of BOB's loans still delinquent

More than one-quarter of the Bank of The Bahamas net loan portfolio was delinquent at end-June 2018 despite the prior year’s bail-out, with its financials unable to escape a “going concern” warning.KPMG, the BISX-listed institution’s external auditor

Bank of the Bahamas opens for business in Bimini

THE Bank of The Bahamas opened a branch in Bimini on Monday restoring banking services to that island for the first time since the Royal Bank of Canada pulled out on August 2.

Cash calls for clarity over Bank of the Bahamas

FORMER Free National Movement Chairman Darron Cash yesterday called for a “full disclosure” of the Bank of the Bahamas’ “true state of affairs,” suggesting that the former Christie administration’s “systematic pattern of distortion and cover up” of the bank’s woes must come to an end.