Finance Minister Colm Imbert’s $63 billion budget which “seeks to re-establish fiscal discipline” came as no surprise to political analysts Dr Bishnu Ragoonath and Dr Maukesh Basdeo.
You are here
TTMF assets now at $3.67b
The T&T Mortgage Finance Company Ltd (TTMF) recorded a 10.8 per cent increase in net income before tax for the year ended December 31, 2013. The company’s latest consolidated financial statements show that income before tax for the 2013 fiscal years was $59.4 million, up from $53.6 million in 2012. Net income after tax fell marginally by 2.9 per cent from $63.1 million in 2012 to $61.3 million last year. TTMF chairman Albert Vincent said in his report that the company had recorded a solid performance, with total assets increasing by 5.4 per cent to $3.67 billion.
He said: “In 2014 we will continue to support the Government of Trinidad and Tobago in the initiative that will give life to the formation of the Trinidad and Tobago Mortgage Bank (TTMB). “The Government has proceeded with the groundwork necessary for this initiative and we are supportive of this venture as we anticipate that it will ultimately provide a self-sustaining platform for the expansion of the housing sector.”
The TTMF was the result of an agreement in December 1965 between the Commonwealth Development Corporation (formerly Colonial Development Corporation) and the Government to form a company to provide mortgage finance for the purchase of dwelling houses, including land.
User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff.
Guardian Media Limited accepts no liability and will not be held accountable for user comments.
Guardian Media Limited reserves the right to remove, to edit or to censor any comments.
Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.