The Bank of Nevis Ltd was the brainchild of Dr. Simeon Daniel, former premier of Nevis. The Bank was incorporated on August 29th, 1985 under the laws of the Federation of St. Christopher and Nevis; however, the Bank opened its doors for business to the public on December 9th, 1985. This was just two years after Nevis had been granted new powers under the new independence constitution of the Federation of St. Christopher and Nevis.
The Bank was created out of a desire to provide banking services to the local community with the hope that this would assist with the development of the island’s economy. It is for this reason that The Bank adopted the motto ‘Improving the Quality of Life’.
Ideally located in the heart of the capital, Charlestown, The Bank of Nevis Ltd offers comprehensive services including a variety of deposit accounts with attractive rates of interest, credit and debit cards and loans. Other services include ATM services, online banking, brokerage services, merchant services and foreign exchange purchases and sales.
Beginnings were humble: simple accommodation, a staff of five, and capital of approximately $250,000. Competition was stiff with five banks, each having offices or branches in Charlestown. Over the years, The Bank of Nevis Ltd has grown to provide banking services not only to the people of Nevis but also to the Federation and the world at large.
The Bank formed its first wholly owned subsidiary, Bank of Nevis International Limited (BONI) on April 29th, 1998 to capitalize on new opportunities offered by the growing offshore sector on the island of Nevis, and to handle its international business. To date, Bank of Nevis International Ltd remains the only offshore bank in the Federation, offering an outstanding opportunity for clients to benefit from the advantages of a jurisdiction which promotes privacy, stability and integrity.
Today The Bank of Nevis Ltd commands a respectable share of the banking business in the Federation, and is the Bank of choice on the island of Nevis. The Bank of Nevis Ltd was the first bank to list its shares on the Eastern Caribbean Securities Exchange (ECSE) in October 2001. It is also a licenced Broker Dealer/Intermediary of the ECSE thereby allowing the Institution to facilitate the buying and selling of shares listed on the ECSE. Capital has grown to over $36 million, and total assets to approximately $400 million. The Bank now employs in excess of fifty-five (55) staff.
The Bank is not only concerned about the economic development of the island. It continues to make substantial contributions through sponsorships and donations in other areas including education, sport, culture and health. The Bank’s motto ‘Improving the Quality of Life’ captures the ongoing contribution that the Bank makes to the overall development of the Federation, and its pride in doing so.