JDX forces JNBS to change opening hours

[Lazie]

Monday, 19 April 2010

More signs are emerging that the Government's Jamaica Debt Exchange (JDX) is having a negative impact on the financial sector with one of the island's leading building societies announcing that it will have to cut back on areas of its operations.

Jamaica National Building Society (JNBS) says its Portmore Pines Branch will implement new operating hours.
The location will now be opened from 8:30 a.m to 3:30 p.m Mondays to Thursdays; and 8:30 a.m. to 4:30 p.m on Fridays.
JN Group Marketing Executive, Leon Mitchell, says the change is in keeping with recent initiatives by the building society to rationalize its services, including not opening branches on Saturdays.
Mr. Mitchell says Jamaica National has examined each of its locations and identified the peak periods in the banking halls.

The decision was made as a direct consequence of the impact of the Jamaica Debt Exchange which has caused the company to reassess its operations with a view to improve efficiency and focus on cost containment.
Several financial institutions are bracing for a fall off in income this year after agreeing to exchange their Government of Jamaica investment instruments for new securities which have lower interest rates.

http://www.radiojamaica.com/content/view/26686/52/

[Me]

Are these people serious. It is no wonder Jamaica is in trouble.

[Lazie]

Are these people serious. It is no wonder Jamaica is in trouble.

Bad habits die hard. Woulda like fi get Karl's view on the matter.

[Mosiah]

Banks at it again. Anything to maintain those super profits at the expense of the citizens of Jamaica.

[MdmeX]

JNBS is full of ********************. They are not even offering a late evening service.
8:30 - 3:30 (M-T)
8:30 - 4:30 (F)

I am sure that they could better serve the public by (a) choosing to open until 6 p.m. one day of the week; or (b) closing half-day one week day and offer a Sat. service, say 9-12.

[Mosiah]

Have you taken a look at their fee structure. They charge you to walk on their sidewalks!

[Me]

The abuse that these institutions carry on with in Jamaica is something else. Borrow people money at less than inflation and invest in a zillion percent bond that the people have to pay for through the government.

[Mosiah]

Obama would have fixed dem bizniz! But alas, Audley and his predecessors...

[Lazie]

Obama would have fixed dem bizniz! But alas, Audley and his predecessors...

Audley is an easy target I guess. From b4 they got into office Shaw has always been promoting the lowering of interest rates. When he spoke out publicly (as minister) against the high interest rate being pursued by the former BOJ gov he was mocked for it.

Then again, when ppl choose to listen to their clueless friends instead of listening to the boring budget debate, of course the incorrect ASSumptions will continue.

[Mosiah]

it's not all about interest rates.

[Lazie]

it's not all about interest rates.

Of course not, anything that may be considered a positive should be ignored. What I find amusing is that Her Majesty's 'Loyal' Opposition, which many round here tripping over themselves to return to office is still trying to show the negatives of the JDX ... pity Omar and Portia made their presentations already .... the JNBS would have given them more proof.

[Mosiah]

if anyone trippin, is brucie

[Lazie]

if anyone trippin, is brucie

... Really? Yuh listen to yuh Opp Leader and har shadow finants minister last week? No wonder the many comrades here say dem nuh waan hear what a gwaan, dem at least have ignorance as an excuse.

[Mosiah]

where does all of that lie in relation to the extradition issue, lazie?

[Lazie]

where does all of that lie in relation to the extradition issue, lazie?

Doesn't come on the radar. What does Shaw and the JDX have to do with that?