"Bank Spreads Now, And Have Been For A Very Long Time, Remain Very High”

Published

10 years ago

November 3, 2014

“The absence of strong competition is one of the chief reasons for bank interest rate spreads having been so large. There is the need for better infrastructure which would make bankers more comfortable lending money, as it would allow them to better judge the risk they are taking. Average deposit rates are in the region of six per cent and average lending rates are 17 per cent. The reform of the macroeconomic environment will serve to reduce the competition from government, which normally drives rates up by its participation in the market. From the Bank of Jamaica side, the assurance of liquidity provision for banks allows them to extend credit with less risk of being caught short without having to call or scramble for more expensive funds. Starting last year and enhancing it this year, we have implemented mechanisms that will allow banks to make commitments that will allow them to be assured, whenever they are called upon to pay these monies out, they can have access to liquidity at reasonable prices.”
John Robinson, deputy governor Bank of Jamaica
Speaking at Parliament’s Public Administration and Appropriations Committee recently.

John Mahfood “I Listed on the JSE to Raise Capital for My Business”

Published

8 years ago

November 24, 2016

Managing Editor

JSE Online Trading Platform

Published

8 years ago

November 24, 2016

Managing Editor

Grace Stockholders To Vote On 3-for-1 Stock Split Today

Published

8 years ago

July 11, 2016

BusinesSuiteOnline

Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

UK Loses S&P Triple A Rating

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.