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Positive mid-year results for Bank of The Bahamas

Bank of The Bahamas has reported positive results for the six-month period ending December 31. The bank’s total revenue grew by almost 9 percent to $31.5 million, far exceeding the 2008 GDP growth rate, while net income stood at slightly above $5 million.

“The reality of the global banking environment makes all of us very cautious,” said managing director Paul JI McWeeney. “Therefore, it is with even greater pleasure that we are able to report that the level of confidence demonstrated by customers in the bank’s ability to perform well for them during uncertain times has netted results that include a solid equity base and growth that far exceeds that of the Growth Domestic Product.”

With branches throughout The Bahamas, including its newest in Cat Island, and a financial services centre in Coral Gables, Florida, Bank of The Bahamas employs approximately 400 people and has assets of nearly $800 million.


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