Report: Banking system still robust
(FP)
By Natasha Beckles | Sat, January 28, 2012 - 12:07 AM
Barbadods' banking system remains strong, although credit quality has worsened because of struggling global and domestic economies.
This is the finding of the first annual Financial Stability Report produced by the Central Bank of Barbados in collaboration with the Financial Services Commission.
Deputy director of the bank’s research and economic analysis department, Anton Belgrave, said stress tests show that it would take a considerable negative shock to economic activity for the least well financed bank’s capital to fall below the minimum eight per cent statutory requirement.
According to the report, this shock was estimated to be a decline of about 15 per cent in real gross domestic product or an 80 per cent increase in non-performing loans with 100 per cent provision against losses.
Read the full story in today's SATURDAY SUN.
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