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‘Headwinds’ slash J S Johnson profit 12.54%

J S Johnson’s managing director is warning that “industry headwinds” across its business have slashed profits by 12.54 percent or almost $900,000 for the year to end-September 2023.

Colina shareholders see 77% profits cut

Colina Holdings (Bahamas) has blamed the damage inflicted by COVID-19 on the value of its investment holdings for a 76.6 percent comprehensive income drop for the nine months to end-September.

FamGuard sees 103% increase in Q1 profits

Family Guardian’s parent yesterday reported a 103 per cent year-over-year increase in 2017 first quarter net income, after an 11.5 per cent drop in total benefit payouts offset a $1.7 million revenue contraction.

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BOB shrugs off $6m default to resume profits

Bank of The Bahamas shrugged off a $6m default judgment bid by an ex-Cabinet minister’s companies, and resumed its slow recovery march, by posting $2.99m in 2019 full-year profits. The BISX-listed institution, which has twice had to be rescued by mu

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BOB IT manager's conviction for $21k client theft upheld

A former Bank of The Bahamas information technology (IT) manager yesterday failed to overturn his conviction for stealing $21,000 from customer accounts in early 2015.The Court of Appeal, upholding the Magistrate’s Court verdict against Renrick Bowe,

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Renewable energy penetration under 2%

Laws to regulate net metering and/or net billing could lead to increased alternative energy installations in the Bahamas, a local provider estimating that renewable penetration in this country was only around 2 per cent.

Gov’t is urged to ‘clarify’ VAT data

The Government was yesterday urged to “clarify” its Value-Added Tax (VAT) collection statistics, a leading private sector executive acknowledging the progress but warning it was too early to “heap praises on ourselves”.

‘Major progress’ on one insurance law

Regulators say “significant progress” has been made in combining the Bahamian insurance industry’s regulatory regime into one law after the sector saw gross written premiums increase by $60m in 2022.

Health premiums drop $15m on COVID travel cover end

Bahamian health insurers suffered a near-$15m year-over-year decline in group premiums last year due to the Government ending COVID-19 protection plan for visitors.

$13m in claims slash insurer's profits 70%

Insurance Company of the Bahamas (ICB) yesterday said it was “not too despondent” over 2011’s 70.5 per cent drop in net income, telling Tribune Business its $1.16 million bottom line was “pretty reasonable” in a year when it incurred $13 million in gross catastrophe claims.

Commonwealth hails $63.5m profit amid 91% claw back fall

COMMONWEALTH Bank yesterday hailed its “second most profitable” year-ever through $63.5m in net income that was generated despite a near-91 percent drop on COVID loss provision write-backs.

NAD IN 36% PROFIT SLASH

By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net Despite suffering an almost-36 per cent net income decline to $7.77 million for the year to end-June, the Nassau Airport Development Company (NAD) still had a large enough bottom li

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Bank unveils 91% profits increase

Bank of the Bahamas International says its business restructuring, coupled with improved margins and an increase in new business, drove a 91 per cent net income increase for its 2013 first quarter.

Bank unveils 24.5% net income decline

Commonwealth Bank yesterday unveiled a 24.5 per cent net income drop for the nine months ended September 2012, as provisions relating to non-performing loans took their toll on the bottom line.

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Campaign estimates tax income

THE government will gain as much as $70 million from a legalised numbers industry, according to organisers of the vote “yes” campaign yesterday.

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North Abaco candidates show assets in declarations

THE official declaration of candidate assets and liabilities revealed quite a range between the three North Abaco by-election hopefuls in terms of financial standing.

RBC OPENS NEW OFFICE AT ALBANY

Royal Bank of Canada (RBC) has moved closer to its high net worth clients by opening an office at Albany to serve such customers.

Bahamas First suffers $6.5m bottom line hit

BAHAMAS First Holdings' (BFH) chief executive yesterday expressed concern about the "unprecedented" level of fire claims the general insurance group incurred in 2011, telling Tribune Business that together with Hurricane Irene-related losses these produced a collective $6.5 million bottom line hit.

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‘Sell, sell, sell’ BOB even with 164% profit rise

The government’s priority with Bank of The Bahamas (BOB) must be to “sell, sell, sell”, a prominent minority shareholder argued yesterday, despite half-year net income increasing by 164 percent.

Gov’t making business into ‘social safety nets’

The Government was yesterday accused of seeking to transform Bahamian businesses into “social safety nets” by eliminating the Employment Act’s current ‘12-year cap’ on redundancy pay.