NCB no piggy bank

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.