Credit Analysis and Management Workshop
Local and Regional representatives of financial institutions have gathered at the Public Service Union Centre on Monday July 9th for the opening ceremony of the Credit Analysis and Management Workshop which will take place from July 9th – 12th.
The workshop is designed for participants in the financial sector to enhance their skills and aptitude in key areas of administration in the lending business.
Chief Executive Officer of National Cooperative Credit Union Limited, Mr. Aylmer Irish, says that as financial institutions a significant amount of revenues come from granting loans, therefore it is necessary that there is a comprehensive understanding of the underwriting process and collections process and it must be timely and effective.
He says the underwriting must be strong enough to create a reasonable expectation that the loan will be paid.
He hopes that the discussions during the workshop and information shared will be applied effectively in the workplace.
Mr. Edmund Robinson, Resident Representative of the Eastern Caribbean Central Bank Agent Office, says the workshop comes at a critical juncture at a time when we are still struggling with the effects of the financial crisis.
While the workshop addresses financial institutions and personal development of its staff, there has to be some effort directed at the borrowing public.
He hopes that in the not too distant future we can see an improvement in loan portfolios of financial institutions and a reduction in their MPL’s and by extention, an improvement in the stability of the financial system of the Eastern Caribbean Credit Unit (ECCU)