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COMMERICAL banks in Jamaica ranked the worst for lending and saving amongst Caribbean nations surveyed in a new World Bank report on access to financing.
When compared with 11 regional counterparts, the Jamaica institutions had the lowest lending and saving portfolios for its population size whilst Anguilla topped the list.
The report, entitled Financial Access 2010, the State of Financial Inclusion Through the Crisis, compiled data on more than 100 countries, including Caribbean nations.
Trinidad and Tobago and Barbados were absent, but larger Hispanic neighbours were included.
The report was done by the World Bank group in conjunction with Consultative Group to Assist the Poor (CGAP).
The methodology to measure financial access included comparing deposits and loans with the size of the adult population; the GDP and per capita income.
The World Bank data found that banks operating in Jamaica were lowest in five of the six categories.
The number of loan accounts per 1,000 adults was lowest in Jamaica at 201.7.
This is below Dominica at 219.4, the Dominican Republic at 245.1, Monsterrat at 246.5, St Vincent and the Grenadines at 256.8, Grenada at 355.9, St Lucia at 373.3, Antigua at 579.8, St Kitts at 663.7, and Anguilla at 790.8.
Loans as a value of GDP was also lowest in Jamaica at 19.4 per cent.
This is below the Dominican Republic at 19.5 per cent , Puerto Rico at 69.2 per cent, St Vincent and the Grenadines at 75.7 per cent, Dominica at 78.7 per cent, Antigua at 95.2 per cent, Grenada at 112.7 per cent, St Lucia at 143.4 per cent, and St Kitts at 158 per cent.
Average loans as a percentage of per capita income was lowest in the Dominican Republic at 116.9 per cent, followed by Jamaica at 137 per cent, St Kitts at 224 per cent, St Vincent and the Grenadines at 395.7 per cent, Grenada at 405.2 per cent, Dominica at 440.9 per cent, and St Lucia at 524 per cent.
The number of bank deposits per 1,000 adults was lowest in Jamaica at 1,150, followed by Puerto Rico at 1,300, St Vincent at 1,691, St Lucia at 2,505, Grenada at 2,556, Antigua at 2,972, Monsterrat at 3,680, St Kitts at 4,367 and Anguilla at 4,427.
When compared with 11 regional counterparts, the Jamaica institutions had the lowest lending and saving portfolios for its population size whilst Anguilla topped the list.
The report, entitled Financial Access 2010, the State of Financial Inclusion Through the Crisis, compiled data on more than 100 countries, including Caribbean nations.
Trinidad and Tobago and Barbados were absent, but larger Hispanic neighbours were included.
The report was done by the World Bank group in conjunction with Consultative Group to Assist the Poor (CGAP).
The methodology to measure financial access included comparing deposits and loans with the size of the adult population; the GDP and per capita income.
The World Bank data found that banks operating in Jamaica were lowest in five of the six categories.
The number of loan accounts per 1,000 adults was lowest in Jamaica at 201.7.
This is below Dominica at 219.4, the Dominican Republic at 245.1, Monsterrat at 246.5, St Vincent and the Grenadines at 256.8, Grenada at 355.9, St Lucia at 373.3, Antigua at 579.8, St Kitts at 663.7, and Anguilla at 790.8.
Loans as a value of GDP was also lowest in Jamaica at 19.4 per cent.
This is below the Dominican Republic at 19.5 per cent , Puerto Rico at 69.2 per cent, St Vincent and the Grenadines at 75.7 per cent, Dominica at 78.7 per cent, Antigua at 95.2 per cent, Grenada at 112.7 per cent, St Lucia at 143.4 per cent, and St Kitts at 158 per cent.
Average loans as a percentage of per capita income was lowest in the Dominican Republic at 116.9 per cent, followed by Jamaica at 137 per cent, St Kitts at 224 per cent, St Vincent and the Grenadines at 395.7 per cent, Grenada at 405.2 per cent, Dominica at 440.9 per cent, and St Lucia at 524 per cent.
The number of bank deposits per 1,000 adults was lowest in Jamaica at 1,150, followed by Puerto Rico at 1,300, St Vincent at 1,691, St Lucia at 2,505, Grenada at 2,556, Antigua at 2,972, Monsterrat at 3,680, St Kitts at 4,367 and Anguilla at 4,427.