Wednesday, April 17, 2024

Worrell not worried


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Central Bank Governor Dr DeLisle Worrell is not worried at this stage about the rising level of non-performing loans in Barbados’ commercial bank sector.
This, as the bank’s just-released Economic Review publication showed that the percentage of non-performing loans across banks in the island was higher than in the banking sector of Jamaica and Trinidad and Tobago up to September 30 last year.
Among Barbados’ five commercial banks, the percentage of non-performing loans stood at 10.7 per cent, while in Trinidad and Tobago it was 5.4 per cent and in Jamaica it was 3.9 per cent.
During a panel discussion yesterday at the relaunch of the bank’s Economic Review publication, Worrell stressed that the island’s banks remained highly capitalised and profitable, with capital ratios well above the regulatory minimum of eight per cent.
He said also that banks here were foreign-owned, with much larger operations and resources abroad to cover any losses that their local subsidiaries might incur.
Non-performing loans are commonly described as loans in arrears for at least 90 days.
In the face of this information, Worrell said the bank’s researchers would undertake greater study of the situation to determine exactly why the non-performing loans ratios were so much higher in Barbados than in Jamaica and Trinidad. 
Full story in Tuesday’s DAILY NATION.

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