Nov 2010 Financial News

FirstCaribbean International Bank (Jamaica) lowers its base lending rate

Nov 19, 2010

FIRSTCARIBBEAN International Bank (Jamaica) Limited has announced a 1.40 per cent or 140 basis points reduction in its base JMD lending rate, effective December 1, 2010.

The reduction, according to Nigel Holness, Managing Director of the bank, is the result of continuous improvements in a number of key economic indicators and increased confidence in the Jamaican economy. As a result, Holness noted, FirstCaribbean International Bank's customers will benefit from a reduction in the JMD prime lending rate, down to 16.85 per cent from 18.25 per cent -- a 1.40 per cent decrease.

This is the bank's lowest lending rate since 1996 and is the latest in a steady series of reductions.


Source:
Jamaica Observer
Friday November 19, 2010

http://www.jamaicaobserver.com/business/FirstCaribbean-International-Bank--Jamaica--lowers-its-base-lending-rate_8167480