4 May 2009

Marshall's bank goes against trend to show good profit

5:41 am on 4 May 2009

A small bank in the Pacific had its best year in 2008, despite the global banking meltdown.

Bank of Marshall Islands has paid shareholders a dividend of 4.50 US a share.

The bank held its annual shareholders meeting in Majuro with the President, Patrick Chen, announcing the bank increased its profit by 13 percent in 2008 compared with 2007.

The dividend paid is the same as last year.

The Bank's President, Patrick Chen says the success of the Bank is because it has no exposure in the sub-prime loan market.