Bank of The Bahamas International
Bank of The Bahamas International’s successful performance has been reflected in good overall growth, return to positive profit increase and double-digit ROE. The bank is growing at a fast pace, planning to expand outside the country and with assets that have gone from £193m in 1999 to just below £400m earlier in 2005.
Throughout 2004, the bank has strengthened its partnership with American Express and AmEx Platinum, has become the agent for MoneyGram money transfers, developed a large merchant services base and doubled its mortgage portfolio.
Bank of The Bahamas International has also undergone a reorganisational exercise to use its workforce more efficiently. It invested heavily in technology to support staff with more mundane activities and allow them to focus on more productive areas. It developed incentives and training programmes, which had an immediate effect on increasing mortgage applications, deposit accounts, credit cards and trust services. The bank is proud of the ‘hands-on’ approach of its staff, including senior management, and of being in touch with its local market and customers.
“It is a great honour for Bank of The Bahamas, a young financial institution, to be ranked among the leading banks in the world,” says managing director Paul McWeeney. “The recognition of excellence inspires all of us to reach higher, achieve more and deliver with greater satisfaction.”
