KINGSTON, Jamaica — After delivering stellar renditions of Bob Marley's ‘Redemption Song’ and Katy Perry's ‘Unconditionally’ last Monday America voted Tessanne into the top five of NCB’s The Voice.
Tonight as the competition gets down to the wire the Jamaican songstress will again seek ...more »
COMMERCIAL banks' non-performing loans (NPLs) fell by $570 million over the three months to September 30.
The decline over the quarter was a continuation of a trend since loans left unserviced for three months or more - NPLs - peaked at just over $23 billion last December.
NPLs fell to $19.9 billion at the end of March before gradually making its way down to $18.9 billion at the end of September.
The ratio of non-performing loans to total loans was 6.3 per cent at the end of September compared to 6.7 per cent three months before and 7.8 per cent at end-September 2011, according to the latest data published by the Bank of Jamaica (BOJ).
Total commercial bank loans outstanding increased over the review period, from $288 billion to $299 billion, mainly due to growth in personal loans.
Loans to local residents climbed by five per cent, from $116 billion to $122 billion over the three-month period, while loans to overseas residents rose by 21 per cent, from $7.5 to $9 billion.
Net lending to distributors increased by seven per cent, from $37 billion to $40 billion, while manufacturers of food, drink and tobacco borrowed $1 billion more over the three months, increasing their debt after repayment to the banks, at $4.5 billion.
Loans outstanding to the construction and tourism sectors declined by $1.2 billion each, reducing the amounts owed by the two sectors to $19 billion and $26 billion, respectively.
Non-performing loans are gradually going down, according to data published
by the Bank of Jamaica
POST A COMMENT
1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper – email addresses will not be published.
2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.
3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.
4. Please do not write in block capitals since this makes your comment hard to read.