section
SEARCH

  • Today
    April 20

  • 04:22 AM

  • SEARCH

Modest profit rise for Signia

GERALYN EDWARD, geralynedward@nationnews.com

Added 30 April 2017

signia-financial-group-logo

SIGNIA FINANCIAL GROUP says despite challenges in the Barbados economy it still recorded increased profitability.

In its just released year-end financial statements, the non-bank financial institution reported  comprehensive after-tax profits of $3.67 million as at December 31, 2016, an improvement on the $3.66 million recorded for the same period in 2015.

Signia, which was formed in 2003 as a joint venture by Cave Shepherd & Company, Massy United Insurance and GraceKennedy and Co. out of Jamaica, was able to grow its loan portfolios with individual loans increasing from $129.3 million to $144.6 million last year, while corporate loans increased from $40.4 million to $47.2 million.

“Over the last five years, delinquency has become a much greater concern for Barbados’ financial institutions, with market levels of non-performing loans recorded to be 9.6 per cent as at June 2016,” chairman Sir Geoffrey Cave and chief executive officer Paul Ashby said in the chairman/CEO’s report. (GE)

Please read the full story in today's Sunday Sun, or in the eNATION edition.

JOIN THE DISCUSSION

Dos and Donts


Welcome to our discussion forum here on nationnews.com. We encourage lively debate, but we also urge you to take note of the following:

  • Stay on topic – This helps keep the thread focused on the discussion at hand. If you would like to discuss another topic, look for a relevant article.
  • Be respectful – Meeting differences of opinion with civil discussion encourages multiple perspectives and a positive commenting environment.
  • Do not type in capitals – In addition to being considered “shouting” it is also difficult to read.
  • All comments will be moderated – Given the volume of comments each day, this may take some time. So please be patient.
  • We reserve the right to remove comments – Comments that we find to be abusive, spam, libellous, hateful, off-topic or harassing may be removed.
  • Reproduction of comments – Some of your comments may be reproduced on the website or in our daily newspapers. We will use the handle, not your email address.
  • Do not advertise – Please contact our Advertising Department.
  • Contact our Online Editor if you have questions or concerns.
  • Read our full Commenting Policy and Terms of Use.
comments powered by Disqus

HOT OFF THE PRESS

FRONT COVER OF TODAY'S NEWSPAPER

front-page

CARTOON

cartoo

POLL

Do you think it should be mandatory for children to get religious instruction?

Yes
No
Unsure

INSTAGRAM