The president of the Barbados Bankers’ Association (TBBA) has dismissed suggestions that banks are ‘ratcheting’ up home foreclosures in difficult economic times.
Horace Cobham, who is also president and country head of RBC Royal Bank (Barbados) Limited and RBTT (Barbados) Limited, was responding to calls from Andrew Bynoe, managing director of Carlton and A1 and Emerald City supermarkets, for legislation to stop banks foreclosing on homes of Barbadians who may default on their mortgage payments during these difficult economic times.
He said that banks should restrict the way they foreclosed on homes.
Cobham told the DAILY NATION yesterday that while delinquencies were once on the increase, they had since tapered off.
Read the full story in today’s DAILY NATION.
