Loans strain
President of the Barbados Bankers’ Association, Horace Cobham.
By Geralyn Edward | Thu, April 26, 2012 - 12:09 AM
Barbados’ main economic engine seems to be sputtering as commercial banks report that a sizeable portion of their non-performing loans are linked to the tourism industry.
A non-performing loan is one that is three months or more in arrears.
And president of the Barbados Bankers’ Association (BBA), Horace Cobham, said yesterday that of all the commercial bank loans that were more than three months behind, 43 per cent were from hotel and tourism clients.
The revelation came during a Barbados Chamber of Commerce and Industry (BCCI) monthly luncheon panel discussion at Hilton Barbados on Is Our Tourism Model Still Working?
Read the full story in today's DAILY NATION.
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