NASSAU| Bahamas Press today is tracking news inside the banks which proves the economy of the Bahamas is doing well.
In the last report of the IMF the country has greatly improved from the lockdown season of the FNM with vast improvements in the overall economic growth under Philip Brave Davis KC leadership.
RBC made $131.1 million and still ain’t paying no interest on deposits.
First Caribbean reported net income of $136.3 million, up $14.0 million or 11%. Commonwealth Bank in The Bahamas reported a consolidated net profit of $49.4 million.
The Bank of the Bahamas reported a net income of $19.7 million for the fiscal year ending June 30, 2024, which was a 73% increase from the previous year.
Yesterday Prime Minister Philip Davis KC said reforms to multiple existing laws, combined with new legislation also passed in Parliament, will boost the ability of Bahamian entrepreneurs to access credit.
Philip Davis KC, addressing the House of Assembly, said the Transactions in Movable Property Security Interest Bill will enable businesses to pledge assets such as accounts receivables and intellectual property as collateral for loans while lenders will have confidence that their interest is secured.
Bahamians are getting ready to gain more access to funds. Its a NEW DAY IN THE BAHAMAS!
We report yinner decide!
