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AID Bank on a drive to reduce non-performing loan portfolio

first_img Share LocalNews AID Bank on a drive to reduce non-performing loan portfolio by: – May 16, 2012 23 Views   3 comments Share Sharecenter_img Sharing is caring! Martin CharlesThe Dominica Agricultural Industrial and Development Bank (AID Bank) is aggressively pursuing efforts to address the level of delinquency within its Loan Portfolio through the implementation of a number of strategies. That’s according to newly appointed Chairman of the AID Bank Martin Charles.Mr.Charles who took up his official appointment last month says the bank has a mandate to be a catalyst and leader in financing investment in Dominica. Charles says these developments will be compromised if funds owed to the bank are not repaid.“Over the years the AID Bank has informed the general public that there are persons who have borrowed monies from the AID Bank, they are in a position to pay but yet still they are not paying their loans and as a result our non performing portfolio rose to a substantial amount.”At the end of the last financial year 2010-2011 loans in the non-performing category totalled 19.91 million E.C dollars.The newly appointed Chairman of the AID bank says strategies have been and will continue to be implemented by the bank to reduce this trend.“Our five year strategic plan addresses the non-performing portfolio. If you look at our last financial report we were able reduce that portfolio significantly because of the strategies that we were able to put in place to deal with our non performing portfolio”.Charles is however optimistic that defaulters will come forward and make good on their promise to pay AID Bank.“We are not totally satisfied with where we are right now. We believe that much more can be done and will be done. All I am asking is that persons who are delinquent take a decision to make good on their promise and pay AID Bank its monies”.Mr. Charles cautioned that the non-payment of monies will affect the Bank’s ability to finance projects in the productive sector, which is instrumental in sustaining investment, creating jobs, and increasing foreign exchange earnings.By: Tarnia GreenGovernment Information Service Tweetlast_img read more

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Wenger promises Sanchez, Ozil will be replaced by stars

first_img0Shares0000Arsenal reportedly agreed a fee for Sanchez with City on transfer deadline day, only for the deal to collapse after Wenger was unable to complete a move for Monaco winger Thomas Lemar. Photo/COURTESYLONDON, United Kingdom, Jan 2 – Arsene Wenger moved to allay the fears of Arsenal fans on Tuesday saying he would replace both Alexis Sanchez and Mesut Ozil with world-class players should they end up leaving.Both Sanchez, who came close to moving to Manchester City on the final day of the last transfer window in August, and Ozil’s contracts are up at the end of the present season. Sanchez’s attitude and commitment to the club have been questioned by fans and some of his team-mates did not congratulate the 29-year-old Chilean after he scored a double in the 3-2 Premier League win over Crystal Palace last Thursday.Wenger, whose transfer dealings have been a sore point with sections of the Arsenal support, said he would also be on the look-out for players in the present transfer window.Mesut Ozil (left) talks to Arsene Wenger after joining Arsenal from Real Madrid in September 2013“We are open to any position for the exceptional player that can give us a plus. It depends a little bit on the injuries as well,” said the Arsenal manager on the eve of their match with reigning Premier League champions Chelsea.“On the other hand it depends if we manage to extend the contracts of the players who are at the end of their contracts in June.“It will depend on that as well. We have to take the consequences of those decisions and respond to it.“How we cope with that, first of all we have not lost them yet, and secondly we will respond to that by bringing in players of top quality.“This club has lost many, many big players and has always responded well.”Arsenal’s Chilean striker Alexis Sanchez celebrates scoring a penalty during the English Premier League match between Burnley and Arsenal at Turf Moor in Burnley on November 26, 2017However, the 68-year-old Frenchman refuted suggestions he was targeting Chelsea’s Brazil centre-back David Luiz or French international midfielder Thomas Lemar from Monaco.The failure to sign 22-year-old Lemar back in August led to the collapse of the Sanchez move to Manchester City.“I don’t want to think about any special names, but these reports are wrong,” said Wenger, whose side are currently fifth in the table, six points behind Liverpool in fourth but with a game in hand.As for catching runaway leaders City, Wenger said there is the slimmest glimmer of hope for their rivals given their two recent performances — a 1-0 win away at struggling Newcastle United and then a 0-0 draw on Sunday against relegation-threatened Crystal Palace.“They have shown signs of being less dominant,” said Wenger, whose side are 21 points behind City.“One of the teams behind need to have a perfect run and they (City) need to collapse a bit.”0Shares0000(Visited 1 times, 1 visits today)last_img read more

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