Bank of the Bahamas International has released its third quarter results, showing net income up by 13% over the same period last year, and assets reaching almost $400 million. Earnings per share also increased, with Managing Director Paul McWeeney indicating that there have been significant achievements in key areas of growth, particularly in non-interest revenue. He said the introduction of online banking has been very well received, remittances through Moneygram continue to grow and the Bank’s affiliation with Express is showing “excellent results”. Mr. McWeeney forecasts further improvements as the bank unveils and promotes new products designed to enhance customer quality and fulfil its goal to become a one-stop financial institution.
Bank of the Bahamas has more than 4000 shareholders and operates branches and service centres throughout the Islands of The Bahamas. Last month it announced plans to expand its branch network to 16 by the end of 2006 – representing five additional locations over the next year and a half.