Last week Commonwealth Bank published its Annual Report, citing 2001 as its most successful year ever. The Report indicated record growth for the fifth consecutive year, a jump of 4.75% representing $21.3 million in net income. Total assets increased 12% to nearly $662 million.
Already in 2002, record first quarter earnings have been reported. This is expected to strengthen consumer confidence and boost the share value. Net income to Common Shareholders in 2001 increased 6.5% to $15.8 million.
Commonwealth introduced its own automated banking machines in 2001. COMCASH provides 24/7 banking at all nine Commonwealth Bank branches in New Providence, Grand Bahama, and Abaco.