BOB Headed Towards Bankruptcy?

Thursday 03rd, April 2014 / 10:24 Published by

BOB in troubleBank of The Bahamas has experienced a further slide in its financial position, recording a total comprehensive loss of $5.97 million for the six months leading up to December 2013, a deterioration from the $2.84 million in profit earned during the comparable period the previous year.

Taking into consideration a $1.23 million preference share payout, ordinary shareholders suffered a $7.34 million net loss for the first six months of its 2014 fiscal year, or a $4.17 million net loss for the preceding three months.

The results were significantly worse than the bank’s results in the previous quarter, when it recorded a $1.9 million comprehensive loss, or $3.175 million loss attributable to ordinary shareholders.

Bank of The Bahamas has experienced a further slide in its financial position, recording a total comprehensive loss of $5.97 million for the six months leading up to December 2013, a deterioration from the $2.84 million in profit earned during the comparable period the previous year.

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1 Comments on “BOB Headed Towards Bankruptcy?

  • Anyone investing in the Bahamas as of now is throwing their money away. I took a $124,000 lost on my Freeport home when I sold it last week after being on the market for 3 years. Disappointing I know, but I still have my life, good luck Bahamas, I’m investing in Cayo Coco Cuba; yippy,I outta here!

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