The Bank of Jamaica is reporting a significant increase in the assets of the country's building societies, rising to $230 billion at the end of October last year, up from $207 billion over the corresponding period a year earlier.
The central bank says the growth was driven mainly by an expansion in mortgage lending, which climbed to $116 billion, compared with $113 billion the previous year.
Other loans also recorded a sharp increase, moving up to $29 billion from $22 billion, year-on-year.
In addition, the building societies significantly increased their holdings of Government of Jamaica securities, which rose to $13 billion, compared with $6.8 billion the year before.
comments powered by Disqus
.jpg)
All feeds
