Banking shift

More Barbadians are moving from traditional bank savings and looking to put their money into investment ventures.

This is according to two financial institutions which have tied the shift to the low interest rate regime of commercial banks.

Vice-president and country head of Royal Fidelity, Jillian Nunes, revealed on Wednesday the trust company was seeing more people involved in investment. She told THE NATION that instead of banking their savings, Barbadians were making use of mutual funds, brokerage accounts and corporate bonds.

“Obviously the climate in Barbados has shifted and I do think we are seeing people shifting from banks into the mutual funds because [of the] low interest rates and . . . more negative interest rates the banks are imposing,” said Nunes. (AD)

Please read the full story in the Daily Nation, or in the eNATION edition.