The Bahamas Girl Guides Association moves one step closer to achieving its objective to complete stage one of its new headquarters, having been gifted the sum of $10,000 from Commonwealth Bank Ltd. Dr. Gail Saunders, Chairperson of the Building Committee, thanked Commonwealth Bank’s President, Mr. Raymond Winder and Executive Chairman, Mr. William Sands and members …
Braving a bike course of nearly 300 miles seems like a challenge only suited for Olympians. However, on March 9th Commonwealth Bank’s eight-member cycling team, the CB Pirates, rose to the challenge for this year’s Ride and Run for Hope event and successfully completed the course. Ride and Run for Hope brings hundreds of participants, …
Commonwealth Bank today reported unaudited total profit of $57.4 million for 2016. Total assets climbed to $1.6 billion at December 31, 2016. Earnings closely paralleled those of 2015 showing only a 0.7% decline. Total assets were up 4.8% over 2015.
Announcement of the Bank’s yearend earnings was made by Executive Chairman William B. Sands, Jr. who noted, “Through continued reinforcement of the Bank’s longstanding business model coupled with a conservative risk assessment process and a sound credit administration program, we were able to effectively weather the economic headwinds experienced during 2016.”
Commonwealth Bank recently reported profits of $47.3 million for the nine-month period ending September 30. The profits report reflected a 7.6% increase over the same period one year ago when profits stood at $43.9 million.
Announcement of third quarter results was made by Chairman William B. Sands, Jr. “The improvement in net interest margin continues to be a key contributing factor along with the effective management of our credit portfolio and our focused attention on expense mitigation practices.” said Mr. Sands. “The Bank continued to focus on high quality credit opportunities which resulted in a non-performing loan ratio of 4.58% while the industry average as of September 30 was 14.3%.”
Declaring “there is hardly a family in The Bahamas that has not been touched by cancer,” Commonwealth Bank revealed today it donated $50,000 to the Cancer Society of The Bahamas as part of its ongoing $500,000, 10-year pledge.
It was the second installment in what will be the single largest contribution to a nongovernment organization by the all-Bahamian-owned and operated financial institution. Funds will be used by the Cancer Caring Centre, a home away from home for those undergoing treatment. Two years ago, the Centre announced it had embarked on a drive to raise $3 million to build a desperately-needed residential expansion that will allow it to house more patients from Family Islands and provide more daytime services, including emotional, nutritional and other support for patients and their families from Nassau.
Urging others to follow suit reaching deep into pockets and hearts to give what they can, Common wealth Bank today made its third substantial donation to a Hurricane Matthew relief fun d with bank President Ian Jennings projecting earlier that the all‐ Bahamian bank’s contributions could reach nearly $500,000.
Today’s donation of $50,000 to The Salvation Army followed cheques of $100,000 each t o the Bahamas Red Cross an d NEMA last week, bringing cash outlays to date to $250,000, a gesture that was applauded by Prime Minister Perry Christie.
One week after Hurricane Matthew slammed into The Bahamas leaving a trail of destruction in its wake, Commonwealth Bank today donated $100,000 to the Bahamas Red Cross to assist with hurricane relief efforts.
It was the single largest donation to the local Red Cross since the storm and will be used to supply food, water, bedding and tarps to protect homes and businesses that lost roofs when Matthew lashed heavily populated areas in New Providence and wreaked havoc on North Andros and Grand Bahama.
With the start of school less than 48 hours away, hundreds of students and parents packed the Kendal GL Isaacs National Gymnasium Saturday, taking away 800 lunches, backpacks stuffed with school supplies and a very clear message: Parents, if you want to see your child succeed, get involved.
It was a back to school party in a community park that rocked with rhythm and sent students back to school with backpacks, books, a bounce in their step and a song on their lips. It was a first when Commonwealth Bank and the Music Makers teamed up at Fowler Park off East Street in the heart of Nassau to distribute back-to-school supplies. Based on the success, it’s not likely to be the last.
Commonwealth Bank today reported an 11.8% increase in net profits from $29.2 million for the six months ending June 30, 2015 to $32.7 million for the same time period this year, crediting tight management of its loan portfolio and an improvement in net interest income.