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NCB no piggy bank

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The National Commercial Bank (NCB)is improving its business operations. It is making more profit than ever before. In 2001 the proportion of bad loans stood at 22%, today the figure has been reduced to 3.19%. And the criteria which must be satisfied for accounts to be placed in that category have been altered. Whereas formerly bad loans were deemed to be non-performing after six months, the time factor has been reduced to three months.{{more}}

Prime Minister Dr. Gonsalves pointed out: “Even though the standards are more stringent, the percentage of non-performing loans is well within international standards.”

The Prime Minister, elected to office for the first time March 28, 2001, secured a second term in the December 7, 2005 general elections.

Dr. Gonsalves noted Vincentians’ record of house ownership and declared: “We are a proud people in this country.”

He noted also that the NCB was “lending more money than ever before.”

He also highlighted his government’s banking policies and added: “This government does not use the National Commercial Bank like the piggy bank for any political party, or any body high up in government.”

In a mood reminiscent of the recent election campaign, Dr. Gonsalves continued: This government doesn’t get involved in any sweet heart mortgage for anybody. This government doesn’t have a “frien, frien” business for lending money at the NCB.

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