Consolidated Finance, a subsidiary of ANSA McAL Barbados Limited, is one of three entities interested in acquiring CLICO Mortgage and Finance in Barbados. ANSA McAL Barbados is a subsidiary of the ANSA McAL Group.
John Mackenzie, President of Consolidated Finance has said acquisition of CLICO Mortgage and Finance would give it access to a significant mortgage market it does not now have access to.
“CLICO Mortgage and Finance is a very well-run institution. It would be governed under the same rules that we are governed under by the Central Bank of Barbados, therefore it has to be a solid, stand alone operation.”
Mackenzie said there are two ways of expanding: seize more market share, or get involved in acquisitions.
CLICO Mortgage and Finance has an asset base of more than Bds$100m. It recorded Bds$2m profit in 2008.
(Excerpt taken from the Trinidad Guardian – http://guardian.co.tt/)