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Gov’t eyes $350m net via ‘outperforming’ VAT
Value-Added Tax (VAT) continues to outperform expectations, with the Government still on target to enjoy a net $300-$350 million revenue increase for the 2015-2016 fiscal year.
Insurer sees 38% fall from Summit
Summit Insurance blamed reduced real estate valuations for a 38.2 per cent year-over-year profits slump, as it focuses on “defending our book” in a year that will have “negative growth”.
Bahamas First in 94% first half profits jump
Bahamas First has unveiled a 94 per cent year-over-year increase in first half profits, although this was driven largely by a $4 million gain in the value of its investment holdings.
Financial disclosures raise more questions
\IN THE April 20 edition of The Tribune newspaper, an interesting story was published under the heading: Money isn't Everything On The Declarations - Sometimes It's About The Plants. This of course was in reference to the financial disclosures of the 133 candidates after Nomination Day on April 17.
‘Global disruption’ to impact local insurers
Bahamas First’s top executive has warned that local insurers are likely to face increasing competition from consumers acquiring coverage online, as the underwriter’s gross and net premiums declined 3 per cent in 2016.
Benchmark shrugs off $2.5m loss via Q1 profit
BENCHMARK (Bahamas) yesterday attempted to put 2011's $2.5 million net loss behind it, as it generated a more than $338,000 swing to produce a modest $53,183 2012 first quarter profit.
CABLE TO 'REVOLUTIONISE' COMMUNICATIONS SECTOR
By NEIL HARTNELL Tribune Business Editor Cable Bahamas' chairman has pledged to "revolutionise" the Bahamian communications industry through being the first 'Triple Play' service provider, the company's net income for the nine months to end-September ris
CABLE TO 'REVOLUTIONISE' COMMUNICATIONS SECTOR
By NEIL HARTNELL Tribune Business Editor Cable Bahamas' chairman has pledged to "revolutionise" the Bahamian communications industry through being the first 'Triple Play' service provider, the company's net income for the nine months to end-September ris
Commonwealth in 7.6% profit growth
Commonwealth Bank yesterday attributed its 7.6 per cent profit increase for the 2016 third quarter to a combination of improved interest margins, expense controls and relatively low non-performing loan ratio.
BAHAMAS TOP RETAIL SPOT FOR FIRSTCARIB
By NEIL HARTNELL Tribune Business Editor CIBC FirstCaribbean International Bank (Bahamas) accounted for the largest share of its Barbadian parent's retail banking revenues in the fiscal year ended on October 31, 2011, generating some $90.64 million or 44
Reserves stay ‘buoyant’ though growth reduced
The Central Bank yesterday said The Bahamas’ external reserves are set to remain “buoyant” in 2023 although June’s growth is $44.4m short of 2022’s expansion.
Delay dividends to give bigger payout, BOB told
Bank of The Bahamas should have waited to pay a more substantial dividend than its recent one cent per share declaration after a 49.6 percent jump in profits, an investor argued yesterday.
FamGuard general agency’s ‘historical’ $4m top-line break
Family Guardian’s general insurance agency broke the $4m top-line barrier for the first time in 2018, its group president saying this showed it shrugged off a “challenging economy”.
Arawak port beats profit target by 23%
The Nassau Container Port’s (NCP) operator has beaten its first quarter profit target by 23 percent despite forecasting that full-year net income will be $763,155 less than it achieved in 2019.
Official: VAT payable onpre-existing contracts
Value-Added Tax (VAT) will be charged on pre-existing business contracts from the July 1, 2014, implementation date onwards, a top government official confirmed yesterday.
'Way too early to celebrate' BOB's 199% profits rise
A prominent Bank of The Bahamas (BOB) shareholder yesterday warned it was “way too early to celebrate” its 199 percent first quarter profits increase as multiple concerns remain. Darron Cash, pictured, the former Free National Movement (FNM) chairman
$6.5m Irene claims push Summit off peak
A BAHAMIAN general insurer has told Tribune Business it would probably have generated $3-$4 million in net income for 2011 had it not been for Hurricane Irene and fire-related claims, its bottom line finishing 71.8 per cent down on the previous year's results.
Gov't targets $100m VAT net revenue rise
The Government is estimating that implementation of a Value-Added Tax (VAT) will generate a $100 million net increase in its annual revenues, Tribune Business was told yesterday, with the new tax generating equivalent to 2 per cent of Gross Domestic Product (GDP).
Over 35% of Gov’t local debt comes due in year
More than one-third of the Government’s domestic debt holdings, equivalent to around $2.3bn, is due to mature within the next year as it moves to eliminate “spikes” in principal redemption that place undue strain on its finances.
FINCO suffers $10.9 million ‘reversal’ into losses
FINCO suffered a $10.9 million year-over-year ‘reversal’ to generate a small loss during the three months to end-April 2017, as delinquent loans “increased significantly” to $122 million.
