According to an article in today’s Jamaica Observer newspaper, FirstCaribbean Bank is being affected by delinquent corporate borrowers, who were the main contributors to a huge loan loss impairment that almost wiped away the bank’s net income during the three months to July 31, 2010. FirstCaribbean Bank earned just under $4 million in net income during the review period compared to $176 million it made in the comparative period in 2009. Loan loss expenses rose significantly by $178 million, mainly on corporate loans … more details here
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