Pierre on BOSL: “All is not lost!”

Pierre on BOSL: “All is not lost!”

Opposition leader, Philip J. Pierre, has told the Times that all is not lost for the Bank of Saint Lucia (BOSL), which is currently saddled with some three hundred million dollars in bad loans.

The disclosure about the bank’s bad loans was made by Minister in the Ministry of Finance, Doctor Ubaldus Raymond.

Raymond said it was a serious problem  that required urgent action.

He committed the current Allen Chastanet to ensuring that the financial institution remains afloat.

Saint Lucia Labour Party (SLP) leader, Philip J. Pierre, told the Times that the BOSL is a very important institution for Saint Lucia and at one point made healthy profits.

He noted that like many other indigenous banks in the region, the local lending institution has encountered problems.

Pierre told the Times it was important that when statements are made about the BOSL, they should be guarded as all is not lost for the bank as yet.

“The bank still has heavy deposits, it still employs a substantial number of people,” the SLP leader observed.

He said the Minister in the Ministry of Finance should be very careful when making any statements about the Bank of Saint Lucia.

“I think we should all try to protect the Bank of Saint Lucia; we should all try to ensure that the Bank of Saint Lucia survives,” Pierre stated.

He asserted   making statements that are unfounded or  which will cause depositors to lose confidence in the bank, would be very disappointing.

“I think all efforts should be made to save the Bank of Saint Lucia if it is in problems but the confidence must remain and statements about the bank should be guarded and made with full knowledge – there should be no speculation as far as the bank is concerned,”the SLP leader told the Times.

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21 Comments

  1. Anonymous
    November 29, 2016 at 2:23 pm Reply

    why protect it?
    very hard to get loan there years ago. how in carnations are they 300m in bad loans.
    get is the debtors are in grave.

    1. Anonymous
      November 29, 2016 at 4:48 pm Reply

      Why am i seeing this pierre fellas so often…I think what pierre wanted to say is SLP is not forgetten…but they are…st.lucians wanna forget abt slp and the damage yall have done to the country..so pierre give us a break from seeing your face…its of no benefit to the country!

      1. Anonymous
        November 30, 2016 at 12:26 pm Reply

        Stop talking crap .. get something better to say about the way forward for St. Lucia …

  2. Anonymous
    November 29, 2016 at 3:06 pm Reply

    Is thatthe way you all hid the state of the economy? No wonder St.Lucia was in sliding mode during the rain of SLP, now lets se what UWP can do?

  3. Anonymous
    November 29, 2016 at 3:57 pm Reply

    St.Lucia had minority shares in BOSL what is he talking about. Trinidad and Tobago owns the BOSL as far as I’m concerned.

  4. Anonymous
    November 29, 2016 at 4:05 pm Reply

    Mr Pierre should realize that this “guarding” of information he is proposing sometimes just creates more room for rumour and speculation. If people believe BOSL is in a bad state but that that the government is somehow trying to cover it up, they are more likely to remove their money from there.

    Besides, ECFH is a publicly traded company, so this information has to be disclosed sooner or later anyway.

  5. Dacobs
    November 29, 2016 at 5:01 pm Reply

    Who runs the bank, the government or the state? As far as I know the bank belong to the state and is managed as such. Decisions taken be the bank as to who it loans to are taken by the bank. If the bank is not doing well has nothing to do with government. People it loaned money to simply has to pay back. I would imagine these lenders are St Lucians – both UWP and SLP supporters. Take your pick anonymous!

  6. Anonymous
    November 29, 2016 at 5:25 pm Reply

    bosl

  7. Anonymous
    November 29, 2016 at 5:28 pm Reply

    Pierre should his words directly to claudius francis and not Dr Raymond. The talkshow host has been reckless and malicious with his statements on BOSL.

  8. young
    November 29, 2016 at 5:55 pm Reply

    Young and able to work call 7209034

  9. Anonymous
    November 29, 2016 at 7:06 pm Reply

    Mr. Pierre and your angels. Yes all may not be loss. Whose fault Kenny or Chas? Chas can’t be involved cause he only their for six months. Who would come to the rescue of BOSL? Pierre, Kenny or Chas. Poor Chas he has had enough. You SLP’s you in it not only UWP. Things will backfire on you SLP”S, cause you’ll like to plat too much politics . You’ll stubborn, you’ll will give Chas a break. No comments from Sad but True. That’s sad.

    1. Anonymous Like You
      November 30, 2016 at 12:29 pm Reply

      What more break Chas need … why don’t you encourage him to spend more time in St. Lucia

  10. Anonymous
    November 29, 2016 at 7:15 pm Reply

    Who got to come to the rescue of the bank? I guess it’s Chas. Some of you who was on Chas back will give the man a break. Disgruntled SLP” were shifting their mismanagement of ST. Lucia to Chas. More to come. Poor Chas.

  11. Anonymous
    November 29, 2016 at 7:19 pm Reply

    Pierre if all is not loss, are you or Kenny going to keep the bank afloat by paying back the loan? You’ll go learn to give Chas a break.

    1. Anonymous
      November 30, 2016 at 1:54 am Reply

      Flashing mirrors to use your phrase talk to claudius

      1. Anonymous
        November 30, 2016 at 2:00 am Reply

        He said the Minister in the Ministry of Finance should be very careful when making any statements about the Bank of Saint Lucia.
        He asserted making statements that are unfounded or which will cause depositors to lose confidence in the bank, would be very disappointing.
        SAY WHAT
        It was Claudius Francis who used his show to break the news
        i guess pierre didn’t hear
        i really think PIP wanted to say the chairman of my party

  12. Revive 45!
    November 30, 2016 at 1:46 am Reply

    U all political HACKS REALLY KNOW HOW TO BELCH U ALL BAD GASSES..TANTO TANTO!

  13. speakingupispower
    November 30, 2016 at 3:30 am Reply

    smh…people depend on the government too much -.- everything has to do with politics for yourl and say its the government fault…. smh…lucians seeing things going bad but will never make a stand for it.. or..bring their concerns forward about how the bank has affected them or anything in that matter but will wait patiently for the government to bring change . i honestly cant stand politics smh

  14. Stay in your section
    November 30, 2016 at 6:21 am Reply

    The SLP govenment themselves who eat the money so UWP let them pay back for all their borball they did.

    1. None
      November 30, 2016 at 1:20 pm Reply

      Since when people eating money

  15. Anonymous
    November 30, 2016 at 4:32 pm Reply

    PIP you need to reprimand Claudius Francis for his reckless statement regarding the BOSL. Dr. Raymond apposed his statement directly by addressing the serious implications of Claudius’ baseless statement. Why would you now come to say that Dr. Raymond needs to be careful what he says? Dr. Raymond said all the right things in the interest of the bank, depositors, and it’s shareholders. It would have been better if had remained silent on this one. Learn to be a statesman and stop the policking.

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