Net income for the Central Bank of The Bahamas dropped 17.8 percent during the 2010 fiscal year.
The results were revealed in the Central Bank’s 2010 annual report. The current figure for the year ended December 31, 2010 stood at $2.57 million, dropping from the $3.13 million recorded in the 2009 fiscal year.
Although the bank’s total income grew by $263k from $24.38 million to $24.64 million, its total expenses were $22.06 million, thus the $2.57 in net income.
Interest on foreign investments declined 11.2 percent from $14.5 million in 2009 to $12.87 million in 2010, while interest on domestic investments slightly decreased from $7.6 million to $7.2 million.
Interest on loans increased 38.3 percent from $1.27 million in 2009 to $1.75 in 2010, and other income greatly increased by 146 percent from $1.32 million in 2009 to $3.26 million the following year.
The Central Bank’s total assets also grew during the 2010 fiscal year, increasing from $1.06 billion in 2009 to $1.18 billion in 2010, due in part to the growth of some of the stocks and bonds in the financial institution.
