Another Shift in the Local Banking Sector

Prime Minister John Briceño

Reports reaching News Five are that substantial Heritage Bank shares are on the auction block. Information suggests that a bank in the Caribbean region and a local bank have shown interest in purchasing those shares. It is a significant development in the local banking sector and today PM Briceño was asked about it. Here is what he said.

Prime Minister John Briceño

“That is a matter the Central Bank deals with, not the Ministry of Finance. Obviously as a government we also have a responsibility to ensure whatever is done it does not jeopardize the banking sector. The banking sector is paramount to a thriving economy to have confidence in Belize and to have confidence in the peg, the two to one peg, so it is something we can’t take lightly. Nothing has come to me at this point. I wasn’t even aware it is already up for auction, but it is something we would have to take a close look.”