Bahamian financial sector shrinks by more than a third in six years

Total assets in the Bahamian financial sector have fallen by more than a third in six years, the central bank revealed in an industry briefing on January 4.

Total on- and off-balance sheet assets fell from $657.9 billion to $426.2 billion between 2012 and September 2018, equivalent to a 35.2% reduction.

The Central Bank of The Bahamas said the decline was largely due to a “shift in business models” and “de-risking” of financial institutions, but other figures could indicate the industry is in