Bridgetown.
Barbados' financial system is strong despite worsening credit quality last year due to the weak global and domestic macro -economic environment.
This assurance came in the form of the second Financial Stability Report produced by the Central Bank of Barbados and the Financial Services Commission and released at a media event recently.
The 46 page document noted that the slowdown in economic growth contributed to weak loan demand and a deterioration in credit quality among all commercial banks, credit unions and non bank financial institutions.
According to the deputy director of the bank's research and economic analysis department Anton Belgrave, the system remained liquid and profitable as entities continued to hold more capital than required by local regulatory or international guidelines.
