MORTGAGE ACCOUNTS and jobs at Barbados Mortgage Finance Company Co Ltd (BMFC) are safe.
That’s the assurance from the Barbados National Bank (BNB) boss to clients and employees following claims by former Opposition Leader Mia Mottley that BNB was shutting down the wholly-owned subsidiary and subsuming it into the bank.
Managing director and CEO Derwin Howell told the MIDWEEK NATION that the amalgamation, which would take effect on April 1 once permission from the regulatory authorities was obtained, will actually be more beneficial because more funds would be available for mortgages.
“For the persons who have mortgages with us, this will be totally transparent to them…
The mortgages will continue to run and be serviced by the same people. We have no intention of moving any of the staff [at Belleville]. They will continue to service the customers from that location,” he said in an interview yesterday.
Read full story in today’s MIDWEEK NATION.
