SigniaGlobe Financial Group Inc is reporting an increase in the institution’s credit growth rate and a steady reduction in payment delinquency as economic activity continues to return to the island.Chief Executive Officer (CEO) of the non-bank financial institution Paul Ashby told Barbados TODAY that even though he was unable to provide detailed figures, the company has seen between 50 to 100 per cent increase in activity, a bounce back from several months of shutdown as a result of the COVID-19 pandemic.He indicated that in the first quarter of 2021 the company recorded losses because there was no major activity in the economy.A significant number of people are accessing financial assistance to purchase vehicles and to pursue alternative energy projects, said.“Coming out of 2021 as people started to get back to work and the tourism industry reopened, restaurants were opening and people were actually coming to the country. There was a lot more confidence in the economy and people started to feel more confident in their future and with the onset of that there has been more borrowing. One of the things that we are known for very well in the community is financing of vehicles and we have seen a lot of that,” Ashby said.
