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Banking

Bahamas Best Bank: Bank of the Bahamas International

Bahamas I Bardados I Bermuda I Dominician Republic I Jamaica I Trinidad & Tobago I Costa Rica I El Salvador I Guatemala I Honduras I Nicaragua I Panama I Argentina I Bolivia I Brazil I Chile I Colombia I Ecuador I Mexico I Paraguay I Peru I Uruguay I Venezuela

Taking full advantage of its location in one of the western hemisphere’s leading financial centres, Bank of the Bahamas International has built on its already stellar growth to notch up its best ever financial performance in the January to March period, when net income rose 36% to $7.8 million. Created in 1988, the bank has been key to creating confidence in commercial banking in a country where few locals had a bank account a decade ago. The bank is benefiting from an aggressive mortgage campaign it began last year and its loans and advances portfolio has increased by 40% over the past year. Return on equity has been strong. The bank, which has become the Bahamas agent for MoneyGram money transfers, recently held a heavily oversubscribed $25 million rights offering, widening its shareholder base. It has also worked hard at customer loyalty, developing its internet banking, opening new branches, expanding its ATM network and expanding its credit card business via a prepaid Visa promotion.

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