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SCOTIA'S $59M REVERSAL OF 'FIRST EVER NET LOSS'
By NEIL HARTNELL Tribune Business Editor Scotiabank (Bahamas) exceeded its 2011 internal projections through an almost $59 million reversal of its first-ever annual loss, its managing director telling Tribune Business it is targeting a "better year" for
SCOTIA'S $59M REVERSAL OF 'FIRST EVER NET LOSS'
By NEIL HARTNELL Tribune Business Editor Scotiabank (Bahamas) exceeded its 2011 internal projections through an almost $59 million reversal of its first-ever annual loss, its managing director telling Tribune Business it is targeting a "better year" for
‘Non-controllable’ cost surge blocks bank matching 2022
Commonwealth Bank believes it would have come close to matching 2022’s “extraordinary” nine-month profitability had it not been for $3m in new Business Licence fees and utility costs “more than doubling”.
Govt earns '$50m net' from Lucayan disposal
The Hotel Corporation’s chairman yesterday blasted that critics of the government’s Grand Lucayan deal have been “left with egg on their face” as it prepares to receive a net $50m from the sale.Michael Scott, who also headed the resort’s board, told
FINCO net income triples despite $100m bad loans
Despite an almost $100 million-strong non-performing mortgage portfolio, Finance Corporation of the Bahamas’ (FINCO) 2013 first half net income more than tripled on the back of reduced operating costs and loan loss provisions.
CIBC: $174m net loss 'final rebound phase'
CIBC FirstCaribbean’s capital market-record $174 million net loss is unlikely to be repeated and represents the final stage in a “three-phase approach to revive our business”, its Bahamian managing director told Tribune Business.
Cocaine seized near Long Island
A JOINT operation with local police, OPBAT, the US Drug Enforcement Administration and US Coast Guard netted a large quantity of cocaine in the Long Island area yesterday.
Woman arrested as $6,000 of marijuana is seized
POLICE arrested a woman from Eleuthera on Sunday after a joint operation netted the seizure of five pounds of marijuana and $6,000.
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.
