AmbergrisCaye.com Home Forums Belize Life Living in Belize Atlantic Bank Problems

The uninitiated might not know that there is a whole subtext here that has little to do with the actual performance of the bank.

I was refering to the first ch7 report and the Guardian article where it was stated that the Belize Bank had a non performing loan ratio of 28%.
Having been in the banking business, that would be of great concern to both depositors and regulators if it were a US bank.

But I understand this is Belize not the US. Thus my question, what protection, if any, do depositors have if a Belize bank fails?

BZ Bk and Heritage both have very high default rates at present. Scotia the lowest, First Caribbean and Atlantic within acceptable ranges. BZ BK lost out on loans to PUP political and business cronies in Ashcrofts attempt to keep PUP in power and build an empire he could manipulate.

A quote from Lan Sluder: Your Money and How to Hold On to It in Belize
By Lan Sluder

CAUTION: Deposits in Belize banks are not protected by deposit insurance, as they are in the U.S. under the FDIC, and in many other countries. All of your deposits are at risk should the bank fail.

Can anyone speak to the status of the British Caribbean Bank (the offshore/international side of Belize Bank) relative to any additional protections or lack thereof?

The Belize Bank has its own thread now in the "Nation" forum: //ambergriscaye.com/forum/ubbthreads.php/topics/385256.html.
Please keep this thread on topic (Atlantic Bank and Beachdog) from now on.
Thanks

Does anyone know current requirements to get a Scotia Bank Account here?

Also wondering for people who have accounts there do they get charged every so often for having a current account there[someone told me they closed their account at Scotia because of an unreasonable charge for that].

So what happens if one was to take a loan for a house and the bank goes under? What would happen to the loan and/or property?

Scotia Bank is a Canadian based bank and from what I have heard from reading the newspapers..... banks in Canada are some of the safest banks in the world.

The house loan is an asset of the bank that made the loan. The assets of a failed bank go to whatever conservator or purchaser or other overseeing entity takes over. Your loan will not be canceled and you will be paying another entity.