{"id":218375,"date":"2024-12-09T09:52:38","date_gmt":"2024-12-09T13:52:38","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=218375"},"modified":"2024-12-09T09:52:39","modified_gmt":"2024-12-09T13:52:39","slug":"pm-browne-tells-bankers-get-out-your-office-go-look-customers","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/pm-browne-tells-bankers-get-out-your-office-go-look-customers\/","title":{"rendered":"PM Browne Tells Bankers: “Get Out Your Office, Go Look Customers!”"},"content":{"rendered":"
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Prime Minister Gaston Browne didn\u2019t hold back on Saturday when he called out local banks for what he sees as their laid-back attitude. Speaking on his weekly radio show on Pointe FM, Browne bluntly told bankers to get off their butts\u201dand actively engage with customers instead of sitting in their offices waiting for business to come to them.<\/p>

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\u201cBankers need to stop acting like they\u2019re too important. They should be out there talking to people, finding out how they can help, and making it easier for folks to get mortgages or loans,\u201d he said, clearly frustrated with the current approach.<\/p>\n\n\n\n

The Prime Minister noted that banks in Antigua and Barbuda saw their assets grow by over $500 million this year, but much of that money is being parked overseas in securities instead of being reinvested locally.<\/p>

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\u201cSure, they might be earning 3% on those investments now, but what happens when U.S. interest rates drop to 1% next year? Why not offer mortgages at 6% or 7% and help people here at home?\u201d he questioned.<\/p>

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Browne called on banks, particularly those in which the government has a stake, like ACB Caribbean and EAB, to step up their game. He said they should be more proactive, whether it\u2019s offering mortgages, supporting small businesses, or exploring other ways to boost the economy.<\/p>\n\n\n\n

\u201cI used to work in a bank, and I\u2019d pick up the phone and call people to see if they needed loans. That\u2019s how it\u2019s done. But these days, they\u2019re too busy going to cocktail parties and playing important,\u201d Browne quipped.<\/p>

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The PM didn\u2019t mince words about the potential consequences of inefficiency, especially at banks where the government holds shares.<\/p>\n\n\n\n

\u201cIf they keep dragging their feet, we might have to privatize some of these institutions. A lot of them won\u2019t have jobs if it comes to that,\u201d he warned.<\/p>

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Browne also stressed the importance of banks making the most of stable economic times to build up their reserves. He pointed to the collapse of ABI Bank as an example of what happens when institutions fail to prepare for economic downturns.<\/p>

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\u201cWhen times are good, they need to maximize their profits. If they don\u2019t, they\u2019ll be crying for bailouts when things get tough,\u201d he said.<\/p>\n\n\n\n

The Prime Minister urged banks to take their role in driving economic growth seriously. Whether it\u2019s making loans more accessible, helping entrepreneurs, or simply being more customer-focused, he made it clear that he expects more from the banking sector.<\/p>\n\n\n\n

\u201cIt\u2019s time for the banks to start acting like they\u2019re part of the solution, not just sitting back collecting fees,\u201d Browne concluded.<\/p>\n\n\n\n

The message was clear: for Antigua and Barbuda\u2019s economy to thrive, its bankers need to roll up their sleeves and get to work.<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

Prime Minister Gaston Browne didn\u2019t hold back on Saturday when he called out local banks for what he sees as their laid-back attitude. Speaking on his weekly radio show on Pointe FM, Browne bluntly told bankers to get off their butts\u201dand actively engage with customers instead of sitting in their offices waiting for business to […]<\/p>\n","protected":false},"author":3,"featured_media":218376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-218375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nPM Browne Tells Bankers: "Get Out Your Office, Go Look Customers!" - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/pm-browne-tells-bankers-get-out-your-office-go-look-customers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PM Browne Tells Bankers: "Get Out Your Office, Go Look Customers!"\" \/>\n<meta property=\"og:description\" content=\"Prime Minister Gaston Browne didn\u2019t hold back on Saturday when he called out local banks for what he sees as their laid-back attitude. 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