Bank makes 20 million in fees alone

5

Prime Minister Gaston Browne disclosed over the weekend that a bank operating here has made $20 million dollars in fees alone.

He did not reveal the name of the financial institution only to reveal that it was an “international bank.”

Browne revealed the bank’s profitability while at the same time blasting them for taking an ultra-conservative approach to lending.

He urged local banks not to follow that model.

The prime minister said the profits the bank made on fees was almost equivalent to what it made in profits on interests.

“One of the international banks I looked at its profit and loss recently; 20 million dollars in fees which is also equivalent of the net interest income.”

“So you can see that bank is now depending on non-interest income to be profitable which will present a risk down the road,” he said.

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5 COMMENTS

  1. As the PM with this info that the poor customer do not have what DID you do about it? Surely you did not get the. Information on Saturday and I am certain that in your capacity as world boss you are taking a chunk of the 20 Mill and give it back to poor people by subsidising fuel with it. Which would reduce cost on most things such as utilities.

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