Awards of Excellence
Latin American regional awards
Barbados National Bank
Best Bank: Barbados National Bank
continues to aggressively lead the financial services sector in Barbados. For the six months to March 31 2007, its consolidated net income was $12.73 million against $12.23 million for the same period the year before. Allowing for the netting off of one-off income gains over both periods, this is a rise of 11.9%. On March 31 2007, the group’s total assets stood at $1.1 billion, an increase of $134 million or 12.8%, over the year before. Impaired loans amounted to 3.53% of the total loan portfolio in 2006, a drop of 3.93% on 2005. The loan loss expense for last year was $800,000, down from $1.2 million in 2005.
Over the past year, the bank has diversified its corporate lending base by increasing its focus on retail and private corporate portfolios. This has resulted in reduced portfolio risk and increasing market share, so that the bank is now number one in commercial lending.
According to Barbados’s central bank, overall growth in credit to the non-financial private sector slowed to 2.3%