BNB bid to save jobs
Barbados National Bank (BNB) is doing everything to rein in its costs and keep its near 520 employees in their jobs.
The assurance came from managing director and chief executive officer Derwin Howell, as he revealed that staff costs accounted for about 45 per cent of the financial institution’s recurring expenses.
In a wide-ranging interview with the DAILY NATION recently, Howell said the current environment was particularly challenging for commercial banks as Barbadians continued to rely less on borrowed money and more on personal savings.
Howell said that the situation for banks was compounded by the rise of bad debt among both commercial and retail clients.
Read the full story in today’s DAILY NATION.