The new man at the helm of the AID Bank has said his first order of business is to ensure that the institution is working based on its strategic plans.
“We are in the second year of a five-year plan,” Julius Corbette said on Tuesday morning. “I will review that …from there I am going to take it and see how we can do things …”
DNO was the first news outlet to report that Corbette had signed a contract and would become the new general manager of the bank effective May 7, 2013. The bank had been without a manager for some time now.
Speaking to reporters on Tuesday Corbette described the AID Bank as “the vehicle for advancing Dominica’s growth and development.”
“And therefore we got a very important role to play and I see myself as working very closely with the appropriate stakeholders to ensure we meet those objectives,” he stated.
Corbette noted that under his watch the bank will find “innovative” ways to ensure loans are repaid and bad debtors brought to book. “One of my key roles is make sure that folks who owe the bank actually pay up,” he pointed out. “And we will find every means, every vehicle that is available to us to make sure that we maintain the liquidity…”
He pointed out that although he has not read the data concerning the bad repayment of loans, “I know by reading some we have issues here with people seeing the bank as a mom and pop … they say, ‘well its our bank so we don’t care.'”
“I want them to understand that we do care and that is the only way we can advance this institution,” Corbette argued.
He also stated that one of his areas of concentration will be agriculture. “We have a situation right now where somehow we’ve turned our backs to agriculture and my role here is to find the monies and help the farmers to be able to get back into agriculture,” he noted.
Other than agriculture, Corbette said he hopes to concentrate on education, tourism and light manufacturing.
Corbette returns to the banking industry in Dominica after a lengthy court battle with the government of Dominica which ended at the Privy Council in London after he was fired from his post as general manger of the National Bank of Dominica (NDB) in 2000.
He was dismissed by the NDB board after approximately three years on the job.
People chill. Corbo’s first day on the job and you are already destined him to fail. The man gives you his vision of what he sees as the future success of the Bank. Criticize him a year from now. Give Corbo a chance.
Congratulations Mr Corbette!! May God grant you Favor and Good Success in this job.
May God Bless our Beloved Dominica!
CIA on Watch wrote“If the new manager comment is so true that the Aid Bank is the ‘vehicle for advancing Dominica Growth and Development’ why then there is so little development in Dominica?”
You have answered your own question—because there was no transformational leadership at the helm. First off, Corbette should take a good look at the staff and cull the dead wood and those parochial thinking.
Agriculture and tourism lending sounds good but it should be part of a National strategy and some fresh thinking. I wish Mr. Corbette well and hope he stays free of party politics.
DNO what happened to the 49 comments before you replace it with supporting comments???
Corbo this is Liz Xavier. I am glad that you are one of us who is willing to contribute to our Dominica, since you have left life in Canada to return home, and to serve your country.
I wish you all the best, as Leader of my Church, I know the strain of leadership; but God is always on your side–you ought to know that.
Do your work to give God the glory my friend–as He will bless you and all who are involved with you–that “all” should be us, Dominicans. Blessings!
Very interesting comment about debt recovery, but is it not the same person who under his watch the NBD had the largest amount of non-performing loans in the history of the Bank/ 32% to be eexact. that figure is unheard of in any institution in the financial community, that alone warranted his termination, but as usual these days there appears to be an absence of business professional who can evaluate these things, and present credible analysis in a court dealing with such matters.
I am happy that a Dominican was given the job, but seriously, where are our young professionals? Is it that our young prime Minister has no confidence in the young professionals, unless they prostrate themselves before him dressed in Red?
What is all this talk about young educated people when they are not given the opportunity to showcase and develop their skills, or use the education they have worked so hard to obtain.
Is this a campaign appointment I am only inquiring, for I am sure inquiring minds would like to know.
By the way the argument about the biggest profit goes out the window when a 5.5 million dollars in non-perforfing loans were not provisioned for. And that is the equivalent of imprudent banking practice, and that was more than sufficient grounds to have supported the dismissal.
It would probably help your credibility if you were to spell ‘exact’ correctly before hurling numbers and statistics. I sense that you are a pseudo intellectual craving attention by affixing your name to these terminological inexactitudes.
I have learnt a long time ago that “One should never mud wrestle with a pig”. I voted labor this is all the response I will grace your nonsensical comment to my post. Much more than it really deserves.
By the way do you even have the ability to challenge the substance of the post?
Yes I do. Have a good day sir.
Louis , check your facts . you are jus envious of Mr Corbett.He is over qualified for this position and you should know your facts, because yor story is not true .you should encourage and wish the man well instead of your damm propergander.
He is the best man for the job and who god bless no man curse.
No weapons formed against Mr Corbett shall prosper
congrates mr.corbett and best wishes.
you sure is Skerrit that fire him? UWP
Mr. Corbette. Tell us where we getting de money for us to Pay up. Come on DNO and tell us. We would like to know real quick, because we ready to run and get it to Pay up.
Yesterday I read an article where the whole thing was a secret and he come to see his sick mother. And today he laying out plans? Congratulations! Speedy recovery to your mommy as well.
What happened between yesterday and today. It was such a big secret yesterday and all of a sudden today, we talking strategic plans and development and engine of growth and all the high language of development…….Poor our little Dominica, advantage, nepotism, politics all of this just killing us. Good Luck Sir. Looking forward to the advancement in Agriculture, Tourism and the business sector with less Chinese Stores and more of our Local Entrepreneurs.
If the new manager comment is so true that the Aid Bank is the “vehicle for advancing Dominica Growth and Development” why then there is so little development in Dominica? This Bank has been in existence for more than twenty years now and every single sector that can grow the economy is on the down side namely Agriculture and Tourism
Do you know why there is so little development? The staff members of the institute is borrowing way toooo much from it. That is what the bank needs to be address for a better development.
SO stupid, the aid bank has…roughly about…20-30 staff? l
1- Lets not forget a bank makes money when it lends money it is not a gift to its staff . So if every single staff has a 500,000 loan with aid bank think of the installment the bank will receive MONTHLY from each of its employee because of salary deductions.
2- From the installment of a 15 million loan thats enought to give 10 other loans
3- I THINK the maximum loan you can take is for the installment to be 40% of your salary. let me break this down for you ( in retarded terms). So lets say everyone in aid bank makes 8,000. 8000*40/100=2400. so thats 2400 a month you pay back a month right? stay with me bro. so lets say everybody in the bank is 40 years old retirement is 65. so thats 25 years to pay that off. 2400 *(the installment over 12 months) = 28,800.00 a year. 28,800.00 * 25 years = 760,000.00 ( we saying each employee has a loan of close to a million dollars at the aid bank?) yeaaaaaa i dont think so. besides if we multiple that by 30 for each employee at the bank….Thats baby money.
4. Using the figures from our last problem. lets say each aid bank employee pays the bank back 2400 a month. 2400* 30 =72,000 (the bank gets that back every month. 72,000* 6 = 432,000.00. In 6 months the bank collect 1/2 a mill more than enough to give more loans.
i aint no banker so i dunno details…lol…this is just raw calculations but…Sounds like you used to work there an you were fired
Hmmm If Corbette is so great why did skerrit fire him at the NBD in the first place, paying all those legal cost, then rehiring him, u people not easy in Dominica boy!
by just what you asking I can see the side your one your a one of them DOM/IN/CANS that cant think for your self that’s so bad you must take time out and see how good we Dominicans doing in our business outside of Dominica and when we in D/a is not what we can do it’s how this people can have you that’s how you make it in D/a so you should start doing business in Dominica and stop running all over the place with this BLUE and RED thing and start working to move Dominica and ask you P/M and his play boys to do the people work so we the Dominicans that out there can come back to our sweet Dominica
He must be holding some serious secrets, they do not want him to “declawey”
you sure is skerritt fired him or eddison james
Get your facts straight, it was neither skerrit or Edison James who fired him.
It’s a shame to hear people making comments without facts. For your information it was not Prime Minister Skerri who fired him, and secondly what positive contribution have you made towards your country Dominica in the last few years to help out your people? Think about that Stop running allyou mouth for no reason at all.
Morihei, when was the last time you gave money to hlp the poor and the homeless? when was the last time you check for factual issues or topics?
Check your facts befor you write crap on here.
Your story is all untrue.