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BOB 'open for partners' as profits decline 75%
Bank of The Bahamas (BoB) is open to strategic partnerships, the deputy prime minister said yesterday, as the institution suffered a 75.2 percent profits decline for its 2020 financial year’s first quarter. Speaking outside the Accountants Week conf
BOB: Unleash us for commercial lending
Bank of the Bahamas’ managing director is urging the Central Bank to “level the playing field” by removing the restrictions imposed on its commercial lending in the wake of its near-collapse.
BPL launches grid tie-in for renewables
Bahamas Power & Light (BPL) has announced the start of renewable energy grid tie-ins for residential customers, although per island limits are being imposed on the total amount that can be supplied.
‘Embrace new era’ with investor citizen plan
The Bahamas has been urged to “embrace a new era in financial services” by launching an Investor Citizen programme, a leading accountant describing this as essential if the country is to remain a “player” in the industry.
Food security
Zimbabwe was known as the breadbasket of Africa until 2000 exporting wheat, tobacco, and corn to the wider world, especially to other African nations. However, today Zimbabwe is a net importer of foodstuffs from the Western World. Many farm owners and farm workers have been killed during violent takeovers.
Royal Bank takes top wealth management honours in Caribbean
Royal Bank of Canada's (RBC) regional wealth management arm has been recognised for providing the best private banking services in the Caribbean by Euromoney, a global banking publication. RBC, which markets itself as the sixth largest wealth manager in t
Inflation to stay ‘high’ as food costs up 11%
The Central Bank yesterday warned Bahamian consumers that inflation will remain “high” in the near-term, and decline more slowly than in other countries, with food and drink prices rising 11 percent over the year to end-June 2023.
Doctors targets expansion with $11.9m RBC financing
Doctors Hospital has obtained two Royal Bank of Canada (RBC) loan facilities worth a collective $11.858m to fund expansion plans in “a rebounding Bahamian economy”.Joseph Krukowski, who is stepping down after 14 years as the healthcare provider’s cha
‘No complaints’ on 72% profits decline
Bahamas First’s chief executive was yesterday “not complaining at all” despite a 72 per cent fall in total comprehensive income for 2016, driven by a one-third increase in net claims stemming from Hurricane Matthew.
Mixed emotions
ActivTrades
The upward trend in the stock market continued into 2023 for a second week. The reporting season in the US traditionally starts with the balance sheets of the large financial institutions. However, their quarterly figures were mostly worse than expected.
Sands make 9th year tournament one of giving back
FREEPORT, Bahamas — As spring approaches, so do the hot days of the Bahamian sun, but thankfully the Bahamian Brewery and Beverage Company was able to enjoy a breezy and not too warm Sunday on the greens for their 9th Annual Sands Beer Golf Tournament in Grand Bahama.
GB POWER PLANT 'OVER 60% DONE'
By NEIL HARTNELL Tribune Business Editor Grand Bahama Power Company yesterday said its new generation plant is "more than 60 per cent complete" after a $40 million investment to-date, as the BISX-listed company that holds 50 per cent of its equity unveil
Fidelity in 37% profit rise as moral hazard increases
Fidelity Bank (Bahamas) yesterday said its net income to end-September remained 37 per cent above 2011 comparatives, despite some mortgage borrowers defaulting in hopes of benefiting from the Government’s mortgage relief plan.
Colina profits rise, cautious over VAT
Colina Holdings Bahamas yesterday reported another profitable quarter in 2013, with operational performance yielding a period-over-period increase in total premium revenue and an $11.7 million growth in the asset base.
Bahamas 'bullish' on Latin America
MIAMI, FL - The Bahamian financial services industry remains “very bullish” on the Brazilian market, a Cabinet Minister telling this newspaper yesterday that the Smart Fund 7 model could be used as leverage to create other products.
AML: $2m in extra tax equals 60% of profits
AML Foods is facing a $2 million increase in its annual tax bill due to the Budget, a sum equivalent to 60 per cent of its projected net income.
FINCO chief warns on low growth ‘challenge’
FINCO’s chairman has warned shareholders it will “continue to be challenged” with low growth and credit losses despite a more than four-fold increase in net income to $39.235m for the 2021 financial year.
URCA mandates 15-year renewable payback clarity
Regulators have mandated that Bahamas Power & Light (BPL) alter its renewable energy interconnection agreement to give homeowners certainty of a 15-year payback, and make it clear that ‘fuel charge’ compensation is only temporary.
Delinquent bank loans push beyond $1bn mark
Delinquent bank loans pushed beyond the $1 billion mark in May, with net passenger departures through the Bahamas’ major airport down 3.4 per cent for the first five months of 2017.
Flowers: Web shop numbers 'don't mean a hill of beans'
A leading web shop operator yesterday said the industry’s current financial numbers “don’t mean a hill of beans”, arguing that the sector’s performance would change markedly in a regulated environment,
