Caribbean Union Bank Turns A Profit
Thursday 3rd May, 2018-Caribbean Union Bank has pulled back from the brink of collapse after government threw the financial institution a lifeline more than three years ago.
30 million dollars in equity made government a major shareholder in the bank which was able to recently turn an operational profit of about one million dollars.
Despite the welcomed news, there will be no dividends from which the government will benefit, according to Information Minister Melford Nicholas.
In its short time in office, government has stepped in to save at least three banks from collapse.