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BoH: CNMI has low loan delinquency rate
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Posted on Feb 19 2006
Most CNMI bank borrowers are relatively good payers as indicated by a Bank of Hawaii report showing that the CNMI’s loan delinquency rate is less than 1 percent.
“Based on the Dec. 31 report, there’s a very low delinquency rate in the CNMI. It’s less than 1 percent,” said visiting Bank of Hawaii executive vice president Ronald H. Leach in an interview during a recent gathering on Saipan.
He said this trend is true with the loan portfolio for both business and individual clients.
“There are no losses [in this category] year in and year out,” he said.
Leach also credited this low risk exposure to the bank’s competence in client selection.
“It’s greatly based on that fact,” he said.
Bank of Hawaii has been providing financial services to CNMI clients for several years now.
There are some 80,000 people in the CNMI, including some 40,000 nonresident workers.
Leach said BoH remains committed to continuing its business in the Commonwealth.
He welcomed the news about Northwest Airline’s introduction of additional flights in April.
He said this is most needed in view of the departure from Saipan last October of Japan Airlines. (Liberty Dones)
