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Scotia eyes 'flat' 2013 as new loans decline 7%

Scotiabank (Bahamas) is expecting a “flat to lower” net income performance for 2013, its managing director yesterday revealing that new loan volumes dropped 7 per cent year-over-year for 2012.

FINCO bad loans still over $100m

Although still carrying more than $100 million worth of ‘bad’ loans, FINCO’s almost 10-fold net income increase for 2015 has given shareholders hope that better days lie ahead.

BISX-listed fund promises investors ‘far better’ 2015

The BISX-listed Bahamas Property Fund yesterday said 2015 will be “a far better year” for its shareholders, as it aims for a ‘double digit’ increase in occupancy levels at its flagship building in downtown Nassau by mid-year.

Banks’ fee income doubles in decade

Bahamian commercial banks are generating an ever-increasing share of their income from the fees detested by many consumers, which now account for more than $1 out of every $5 in earnings.

Doctors targets $3.2m incapital upgrades for 2012

Doctors Hospital is planning to invest $3.2 million in capital projects during its current financial year, as it kicks-off "phased" expansion plans with two new

RoyalStar: Acquisition in Cayman did 'not come off'

ROYALSTAR Assurance's $41.58 million capital base has given it an acquisition 'war chest', its managing director disclosing to Tribune Business that an attempted purchase in the Cayman Islands last year failed to "come off" due to differences over valuation.

Property Fund ‘gap’ as PwC to vacate Providence House

THE BISX-listed Bahamas Property Fund is preparing for temporary vacancy at its last fully-occupied property, following a $2.206 million third quarter hit caused by a timing adjustment.

Fidelity ‘well on way’ to beat $15m profit target

A BISX-listed bank’s top executive says it is “well on its way” to exceeding its $15m full-year profit target for 2021 if first quarter “trends hold” over the remaining seven-and-a-half months.

Govt structure aids financial services Immigration ‘lever’

The Government’s has been praised for bundling Immigration with financial services in the same ministerial portfolio, a senior executive suggesting it would help “leverage real international business” for the Bahamas.

Arawak port predicts near-$3m profit fall

ARAWAK Port Development Company (APD) was 11 per cent ahead of profit projections for its 2018 first quarter, despite forecasting a near-$3 million decline for the full-year.The BISX-listed Nassau Container Port (NCP) operator revealed in its annual

Fidelity targets 10 per cent profit rise for 2018

FIDELITY Bank (Bahamas) is targeting 10 per cent net income growth for 2018 as consumer loan expansion continues to compensate for mortgage book contraction.Gowon Bowe, the BISX-listed commercial bank’s chief financial officer, told Tribune Business

Atlantis enjoys 15% cash flow jump by Disney/Vegas tie

Atlantis is closer to marrying Disney World and Las Vegas than “any other property in the world”, with net cash flow having increased by 15 percent since its current owner’s 2012 takeover.Morningstar Credit Ratings, the investment analysis firm, in a

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.

Central Bank: Inflationary pressure to be ‘contained’

The Central Bank yesterday forecast that “inflationary pressures will remain contained” while The Bahamas’ foreign currency reserves will close 2022 above “international benchmarks”.

Doctors targeting 23% capital investment rise

By NEIL HARTNELL

'Embrace new era' with investor citizen plan

By NEIL HARTNELL

Bahamas must 'cast its net beyond tourism'

The Bahamas must “cast its net beyond tourism” to grow and diversify the economy, a private sector executive describing this as a key step in attracting more qualified professionals/university graduates back to this nation.

Brewery succeeds in $1.2m tax challenge

Commonwealth Brewery has revealed it successfully challenged a $1.156m tax demand by the Government and is now awaiting its response to the arbitration ruling.

Colina General had $2m asset deficiency

COLINA General Insurance Agency had an almost-$2 million balance sheet solvency deficiency when it was acquired by its sister company, BISX-listed Colina Holdings (Bahamas), in early December 2011 for just $1, Tribune Business can reveal.

LPIA operator leaves its COVID debt woe behind

The Bahamas' major airport continues to leave its COVID debt woes behind it with the coverage ratio stipulated by its lenders now healthier than it has even been since the pandemic started.

The Tribune

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