AID Bank to transfer the Industrial Estate assets to boost its capital
The Management and Staff of the AID Bank have said that they welcome a decision by the Government of Dominica to transfer the assets of the Industrial Estate to the bank to boost its current capital.
The announcement was made by Honorable Petter Saint Jean while speaking on the Prime Minister’s behalf at the 18th Annual General Meeting of the AID Bank earlier this week.
The Minister also pointed out the importance of clients upholding their responsibilities as it relates to the payment of loans.
According to him, the repercussions of such actions will not only have a negative impact on the financial institution, but also the economy.
For the financial year ending June 30th, 2010, AID Bank recorded a total income of $12.33 million excluding the foreign exchange gain of $0.39 million.
This represents approximately 10.72 percent above the comparable figure of $11.14 million recorded and restated for the preceding financial year.