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Governor raises reserves forecast as $3bn beaten

The Central Bank yesterday raised its year-end forecast for The Bahamas’ external reserves holdings after they started May above $3bn following a $523m expansion during the first three months of 2022.

Accountant slams Business Licence fee 'disaster'

A top accountant yesterday urged the Government to replace the “disastrous” Business Licence fee with a corporate income tax, warning that the current system discouraged growth and investment.

Cable produces 37% profit rise

Cable produces 37% profit rise Cable Bahamas yesterday unveiled a 37.4 per cent net income increase to $6.339 million for the 2012 first quarter, up from $4.614 million during the same period in 2011. The growth was driven by a 23.5 per cent revenue rise

FINCO in profit boost as bad loans hit $100m

FINCO in profit boost as bad loans hit $100m By NEIL HARTNELL Tribune Business Editor The $5.4 million boost from changes to its loan loss provisioning calculation enabled Finance Corporation of the Bahamas (FINCO) to enjoy a 3.18 per cent net income in

Licensing delays cost Doctors Hosp $1.275m

Licensing and permit delays for its medical tourism programme cost Doctors Hospital $1.275 million in its last financial year, helping to propel it to a collective $261,391 net loss.

BANK AND ROTARY PARTNERS FOR CHARITY GOLF TOURNEY

SCOTIABANK is partnering with the Rotary Club of East Nassau and Scout Association of The Bahamas on their 32nd annual charity golf tournament set for next month.The bank is a gold sponsor of the annual event with 100 per cent of the net proceeds rai

RBC unit wins top regional honour

RBC Wealth Management, located at Lyford Cay, has been recognised as the best provider of private banking services in the Caribbean, according to Euromoney, a global banking publication.

Double standard

The alcoholic beverages are flowing, the basketball court has been taken over by their volleyball net, the pavilion is full, and it is not available to our children and residents.

‘Headwinds’ slash J S Johnson profit 12.54%

J S Johnson’s managing director is warning that “industry headwinds” across its business have slashed profits by 12.54 percent or almost $900,000 for the year to end-September 2023.

Colina shareholders see 77% profits cut

Colina Holdings (Bahamas) has blamed the damage inflicted by COVID-19 on the value of its investment holdings for a 76.6 percent comprehensive income drop for the nine months to end-September.

FamGuard sees 103% increase in Q1 profits

Family Guardian’s parent yesterday reported a 103 per cent year-over-year increase in 2017 first quarter net income, after an 11.5 per cent drop in total benefit payouts offset a $1.7 million revenue contraction.

BOB shrugs off $6m default to resume profits

Bank of The Bahamas shrugged off a $6m default judgment bid by an ex-Cabinet minister’s companies, and resumed its slow recovery march, by posting $2.99m in 2019 full-year profits. The BISX-listed institution, which has twice had to be rescued by mu

BOB IT manager's conviction for $21k client theft upheld

A former Bank of The Bahamas information technology (IT) manager yesterday failed to overturn his conviction for stealing $21,000 from customer accounts in early 2015.The Court of Appeal, upholding the Magistrate’s Court verdict against Renrick Bowe,

Renewable energy penetration under 2%

Laws to regulate net metering and/or net billing could lead to increased alternative energy installations in the Bahamas, a local provider estimating that renewable penetration in this country was only around 2 per cent.

Gov’t is urged to ‘clarify’ VAT data

The Government was yesterday urged to “clarify” its Value-Added Tax (VAT) collection statistics, a leading private sector executive acknowledging the progress but warning it was too early to “heap praises on ourselves”.

‘Major progress’ on one insurance law

Regulators say “significant progress” has been made in combining the Bahamian insurance industry’s regulatory regime into one law after the sector saw gross written premiums increase by $60m in 2022.

Health premiums drop $15m on COVID travel cover end

Bahamian health insurers suffered a near-$15m year-over-year decline in group premiums last year due to the Government ending COVID-19 protection plan for visitors.

$13m in claims slash insurer's profits 70%

Insurance Company of the Bahamas (ICB) yesterday said it was “not too despondent” over 2011’s 70.5 per cent drop in net income, telling Tribune Business its $1.16 million bottom line was “pretty reasonable” in a year when it incurred $13 million in gross catastrophe claims.

Commonwealth hails $63.5m profit amid 91% claw back fall

COMMONWEALTH Bank yesterday hailed its “second most profitable” year-ever through $63.5m in net income that was generated despite a near-91 percent drop on COVID loss provision write-backs.

NAD IN 36% PROFIT SLASH

By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net Despite suffering an almost-36 per cent net income decline to $7.77 million for the year to end-June, the Nassau Airport Development Company (NAD) still had a large enough bottom li

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