BOB Headed Towards Bankruptcy?

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.