Sunshine Girls coaches should resign – Campbell

first_imgVeteran local coach, Sylvester Campbell, has called for sweeping changes to Jamaica’s netball coaching staff, this after the Sunshine Girls’ performance, which placed them fourth at the just concluded Netball World Cup in Sydney, Australia.The Sunshine Girls failed to win a medal at the championships after they were comprehensively beaten 66-44 by England in the third-place play-off on Saturday.The Jamaicans, who had high hopes of winning the gold medal, ended their campaign with consecutive losses, having gone down 67-76 to Australia in the semi-finals.It was the second consecutive championships that the Sunshine Girls were losing to England in the bronze medal game.Campbell told The Gleaner in an interview that the entire coaching staff should hand in their resignation now to the hierarchy of the sport’s local governing body, Netball Jamaica (NJ). He says Netball Jamaica needs new personnel with fresh ideas to take the sport forward.”I believe that everybody should just hand in their resignation or Netball Jamaica should ask these persons to resign,” said Campbell, who has coached Tivoli Gardens to several local championship wins.”This will allow Netball Jamaica open the process again where new people apply.”We can’t be doing the same things and expect to get different results,” Campbell said.The outspoken Campbell, also an international netball umpire, added that the Sunshine Girls’ last two outings to the World championship have produced the same results and this cannot be allowed to continue, noting that a lot of money and resources had been pumped into this team and they failed to perform on the global stage.”I think that this team was mentally weak,” said Campbell. “The tactical moves that we made just didn’t work out for us at the championships.”evaluationHowever, NJ’s president, Marva Bernard, said her association will be doing an evaluation on the performance of the coaches at the championships.”I have two months to wrap up and I have my report to do, so you will be hearing from me soon,” said Bernard, following the team’s arrival at the Norman Manley International Airport on Monday night.”We wouldn’t have made a decision as to what’s next because the cycle ends now, a new cycle begins. The ladies will get some rest,” she said. “The coaches and general manager will chart some courses for 2019.”last_img read more

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Scotiabank loses $243M in loan losses

first_img… slashes non-performing loans by 50 %ScotiaBank Guyana has managed to cut its losses from loans, including bad loans by almost half when comparisons are made between last year and 2015’s figures. This is according to the Canadian based institution’s condensed Financial Statements for the period up to October 2016.The statements have to be published on a quarterly basis as stipulated by the Bank of Guyana’s supervision guideline No 10, which deals with Public Disclosure of Information. While ScotiaBank suffered a loan loss expense of $446.9M in 2015, that figure totaled $243.7M for last year.The loan loss expense field covers the cost the bank attracts when loans are non-performing. It is normally associated with customers defaulting on loans or renegotiated loans that may translate to lower yields.Collectively, the Bank’s net income for the year 2016 amounted to $2.4B. This is also a positive indicator for ScotiaBank, as their net income for 2015 was $2.1B. Tax expenses cost the bank over $1.7B for 2016, compared to $1.5B the previous year.In addition to loan loss, the bank’s expenses included money which went to salaries and benefits, premises and technology, communication and marketing campaigns, as well as other unspecified expenses. This amounted to $3.1B, an increase compared to 2015’s $3B figure.Last year, the International Monetary Fund (IMF) had issued a warning to the Guyana Government. Among its concerns had been non-performing loans.According to the IMF, there was need for heightened vigilance due to increases in non-performing loans. Welcoming the changes to credit reporting legislation, they had encouraged the authorities to continue to strengthen the financial sector’s supervision.It had also suggested tightening provisioning requirements, large exposure limits, restrictions on certain lending policies and loan classification rules.Bank of Guyana Governor Dr Gobind Ganga had told media operatives at a press conference, following the warning that the elevated level of non-performing loans, comparable to the levels in the Caribbean, was due largely to the decline in non-oil commodity prices and reclassification of exposes by a few banks.Dr Ganga had stated that non-performing loans represented about 11.3 per cent of the industry’s total credit portfolio, which was about 1.3 per cent above the end-December 2015 level. He estimated some $28 billion in non-performing loans.Moreover, the BoG Head pointed out that these non-performing loans are usually fully collateralized with safeguards set up by banks. Nevertheless, he noted that this issue is among top priority of the bank.“Non-performing loans remain the focus of intense scrutiny by the Bank of Guyana as we continue to monitor and encourage financial institutions to implement measures to reduce this level of non-performing loans.”last_img read more

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