Barbadians seem to have stopped racking up high credit card debt, but they continue to struggle with mortgage payments, according to president of the Barbados Bankers’ Association, Horace Cobham.
The veteran banker said yesterday the situation was indicative of the “deeper financial struggle” of Barbadians.
He was speaking to the media at Hilton Barbados just before the opening of the Financial Institutions Conference On General Financial Sector Issues And Policies hosted by the Central Bank of Barbados.
Cobham, who is president and country head of RBC Ltd and RBTT Barbados Limited, said following “the initial wave of the financial crisis, delinquencies in credit cards went up quite significantly for most banks but interestingly enough over time they’ve come down”.
Read the full story in today’s WEEKEND NATION.
