Barbados Bankers’ Association president, Donna Wellington. (FILE)
- Guyana welcomes non-stop flight by JetBlue Read More
- Butterfield axes jobs in Bermuda and Cayman Islands Read More
- Swimmers salute Bellamy Read More
- Patriots take down unbeaten Knight Riders Read More
- Wanted: A more efficient airport Read More
- Low-hanging fruit for all Read More
- Ewan McGregor in new Star Wars series Read More
Commercial banks are not about to start lending money willy-nilly, despite calls for them to free up some of the $9 billion in deposits to help stimulate economic activity.
The Barbados Bankers’ Association president Donna Wellington said banks were prepared to lend money for productive purposes and were doing so.
“It’s well understood out there that banks may be a little . . . harder on people in terms of the stringent nature of our lending practices, but our regulators require us to be stringent,” the senior banker stressed.
Barbados Co-operative & Credit Union League Ltd general manager Anthony Pilgrim said some customers were shifting away from the banking sector “to finance companies that are offering better rates of return on deposits”. (SC)
Subscribe now to our eNATION edition for the full story.
For the latest stories and breaking news updates download the Nationnews apps for iOS and Android.