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ANSA McAL bids for CLICO Mortgage and Finance

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/)

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