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FTC: Bank competitiveness improves but concerns remain

Jamaica's banking sector provides stability but might not be competitive enough, despite improvements in recent years.
 
That was concluded from a new study done by Fair Trading Competition of the $2.4 trillion commercial banking sector, which is served by eight banks.
 
The author of the FTC staff report, Carlton Thomas, said the commercial banking sector, with its consistent index patterns indicating moderate concentration, may indicate a landscape that fosters stability but also hints at limitations in fostering intense competition.
 
The study by the competition watchdog assessed the market from 2017 to 2023. 
 
It looked at the concentration of deposits, loans, and assets across the sector.


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