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Bahamas First's 'banner year' as profits up 548%
BAHAMAS First’s chief executive yesterday hailed 2017 as “a banner year” where profits increased almost seven-fold, adding: “Everything we needed to go in our favour did.”Patrick Ward told Tribune Business that the “buildings blocks” laid by the prop
Fidelity targeting 10% profits rise
FIDELITY Bank (Bahamas) is targeting 10 per cent profits growth for 2018, following a year in which the “cost of business” exceeded staff payroll and benefits.Gowon Bowe, the BISX-listed institution’s chief financial officer, told Tribune Business th
Bahamas First in 18.5% motor claim increase
Bahamas First has seen a 20 percentage point decline in comprehensive insurance policies’ share of its auto book since the recession began, with total Bahamian motor claims increasing by 18.5 per cent in 2012. ==
Gov't to collect just over half initial VAT goal
The Government will realise just over half of its projected Value-Added Tax (VAT) net revenue increase in the first year, the International Monetary Fund (IMF) has warned, with forecast increases in Customs and real property taxes also over-optimistic.
BoB rocked by new $24m loss
Bank of the Bahamas suffered another $24 million loss for its 2016 financial year, shareholders have been told, as the BISX-listed institution asks them for a further $40 million in equity capital.
Cable in $169m refinance amid return to profitability
Cable Bahamas yesterday unveiled plans to refinance $169m in preference share debt, and slash annual interest payments by $500,000, after generating its first quarterly net profit for several years.
Bank 'optimistic' despite $3.175m shareholder loss
Bank of the Bahamas is “cautiously optimistic” 2014 will herald a turnaround in its financial performance, after a 158 per cent increase in loan loss provisions pushed its ordinary shareholders into a $3.175 million net loss.
Regulator rejects Cable’s BTC ‘price rebalancing’ fears
Regulators have rejected Cable Bahamas’ pleas to prevent an “inordinate financial burden” being placed on other operators through the absence of long-overdue ‘tariff rebalancing’ by the Bahamas Telecommunications Company (BTC).
Some mandatory VAT registrants ‘yet to come forward’
Six months into the implementation of Value-Added Tax (VAT) there are still some mandatory registrants who have not yet come forward, the Ministry of Finances Financial Secretary John Rolle said yesterday, but he added that revenue intake from the tax continues to “line up with expectations”.
VAT’s 5% increase in food budget for social services
THE Government has approved a 5 per cent increase in the Department of Social Services’ food assistance budget to mitigate the impact of Value-Added Tax (VAT), a Cabinet Minister said yesterday.
Small business expert: 700 new jobs needed per month for 3 years
The Government yesterday pledged to bring the long-awaited Small and Medium-Sized Business Development Bill to Parliament by January 2013 at latest, as a sector consultant said the Bahamas needed to create 700 net new jobs a month for the next three years to “dent” the unemployment rate.
FamGuard targets improved profits 'through 2012' after 54% Q1 rise
FAMGUARD Corporation's 54.4 per cent net income increase for the 2012 first quarter "came close to expectations", its chief executive yesterday expressing optimism that its alliance with a major international 'third party' healthcare provider would further help reduce claims.
BEC outages 'outrageous'
The Bahamas Electricity Corporation's (BEC) frequent power outages were yesterday blasted as "outrageous" by a leading private sector figure, who said its "ridiculously expensive" and unr
Central Bank holding steady as reserves drawdown gains pace
The Central Bank yesterday maintained its prediction that The Bahamas’ external reserves will end 2022 ahead of prior year levels even though October’s decline exceeded 2021 by some $58.3m.
WATER CORP DISCONNECTS 5,400 IN '11
By NEIL HARTNELL Tribune Business Editor A net 5,435 customers were disconnected by the Water & Sewerage Corporation for non-payment in 2011, data supplied to Tribune Business reveals, even though reconnections reached their highest level for five years.
BANK IS FACING 50,000 ACCOUNT PROBE ON FATCA
By NEIL HARTNELL Tribune Business Editor Commonwealth Bank yesterday said it was facing the prospect of 'drilling down' into an estimated 50,000 client accounts to determine if there was any US beneficial ownership connection, while telling Tribune Busin
Banks suffer 37% profitability decline
Bahamian commercial banks saw total private sector loan arrears increase by $76m during the 2020 fourth quarter as the sector’s collective profitability shrunk by 37 percent year-over-year.
MEDITATION: One thing I want
IF you could have one thing for sure this year, what would you want?
Panthers and Defenders donate to DW Davis
AS the benefactors of the use of the DW Davis Gymnasium, Jason Saunders said it was only fitting that their Panthers and Defenders ladies and men’s volleyball teams give back something tangible to the school’s athletic programme.
‘Jobless numbers need to get real’
WHILE admitting unemployment is largely a private sector problem, Bahamas Institute of Chartered Accountants president Gowon Bowe said yesterday newly released jobs statistics cannot be used as an indicator of the country’s economic performance.
