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Assets and liabilities in Jamaica's commercial banks continue to grow
- Article from:
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Caribbean Today
- Article date:
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October 31, 1995
- Author:
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Neville Johnson
Caribbean Today
10-31-1995
Assets and liabilities in Jamaica's commercial banks continue to grow.
The assets and liabilities of the commercial banks in Jamaica continue to grow at an unprecedented rate, despite the sluggishness of the national economy. Between May 1992 to May 1995 the assets and liabilities of the commercial banks grew from $34.4 billion to $101.5 billion, an increase of 195.1 percent. Over the same period, interest rates averaged 58 percent and 48 percent respectively.
While the commercial banks are enjoying their incredible growth, the country's productive base was on the decline coupled with high inflation. There was little or no growth in the economy, ...
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