 About Us
THE BEGINNING
In 1980, after more than 150 years of banking in Saint Lucia, it was clear the needs of certain segments of the market had not been satisfied. In particular, lower income families and local businessmen did not have ready access to credit. As a result, the Government of Saint Lucia saw it necessary to establish both a commercial and a development bank.
The Government devised a clear strategy to enter the market as a competitor, to gain a share of the lucrative banking business. Profits generated as a result would be used to benefit the country. Accordingly, the Government established the National Commercial Bank of Saint Lucia Limited (NCB) and the Saint Lucia Development Bank (SLDB), as the first banks to be wholly owned by the Government and people of Saint Lucia. The National Commercial Bank of Saint Lucia Limited was incorporated as a Limited Liability Company on October 10, 1980 and on January 5, 1981, NCB opened its doors to serve the public.
On February 25, 1981, the Saint Lucia Development Bank took over the operations of the Housing Development Bank, the Agricultural and Industrial Bank and the lending functions of the National Development Corporation and a Student Loans portfolio.
THE CREATION OF ECFH
In January 2001 the shareholders of Saint Lucia’s two leading financial institutions the National Commercial Bank and the Saint Lucia Development Bank agreed to a merger which gave birth to the East Caribbean Financial Holding Company Limited (ECFH) on July 1, 2001. In October 2001, ECFH and the Bank of Nevis became the first companies to be listed on the Eastern Caribbean Stock Exchange. Currently, in excess of 13.1 million shares are recorded as issued and outstanding for ECFH.
Saint Lucia embarked upon a new era in financial services, as ECFH became the island’s first full-fledged financial services provider.
THE ECFH GROUP - OVERVIEW
The ECFH Group is governed by a Board of Directors comprising individuals from the OECS and Caricom, representing a balanced mix of competencies and wide experience in business, financial services, the legal environment and other sectors.
The Group has grown to become the largest indigenous financial institution in Saint Lucia. The Group comprises four subsidiaries:
1. Bank of Saint Lucia Limited
2. Bank of Saint Lucia International Limited
3. ECFH Global Investment Solutions Limited
4. EC Global Insurance Company Limited
5. Property Holding & Development Company of Saint Lucia Limited
6. Bank of St Vincent & the Grenadines Limited
Bank of Saint Lucia’s five branches are located at the Financial Centre and Waterfront in the city of Castries, in the towns of Soufriere, Gros Islet, and Vieux Fort, with a Bureau de Change at Hewanorra Airport and a Business Centre at Rodney Bay.
The Bank operates 27 ATMs and cash dispensers located at each branch, and at major shopping malls and supermarkets island wide.
Bank of Saint Lucia provides a full range of retail, commercial, development and investment banking products and services, and enjoys a greater share of the local banking market. Its network of five branches, with 27 ATMs and cash dispensers is the most extensive in St Lucia.
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Bank of Saint Lucia International Limited (BOSLIL), the Group’s international banking service provider is quietly making a name for itself on the international market while highlighting Saint Lucia as an offshore jurisdiction. BOSLIL has also formed a strategic alliance with a reputable international financial services group which has served as the blue print for entering into further strategic alliances and continuing to promote the BOSLIL brand globally.
To this end, BOSLIL launched its Preferred Professional Programme and was able to develop alliances with new intermediary groups, enhance the service capability available to clients and secure relationships with reputable private banks in Europe which will be able to provide bespoke asset management services.
Through strategic partnerships and activities designed to raise its profile, BOSLIL’s customer base continues to grow, along with customer deposits and total assets.
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Whether you are seeking comprehensive investment advice or are comfortable managing your own investment strategy and taking full control of your own portfolio, our Professionals at ECFH Global Investment Solutions Limited (ECFH Global Investments) provide you with access to a complete range of investment and financial solutions.
Our wide range of capital market services reflects our financial innovation and expertise in our chosen markets.Our Investment Professionals will deliver to you high quality research and advice, distribution, and trading services.
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EC Global Insurance Company Limited is a domestic insurance company which offers attractively branded policies for specific target groups primarily in the Property/Homeowners and Motor markets. The company also offers various commercial policies and Group Credit Life Insurance. EC Global differentiates itself in a heavily competitive market through prompt claims settlement and the application of advanced business processes.
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Property Holding & Development Company of Saint Lucia Limited (PRODEV) owns all ECFH properties and is responsible for their management and upkeep. The Financial Centre building in the capital city of Castries being its flagship property. The PRODEV also manages all external tenants of the company and through a series of major renovations, is ensuring all premises of ECFH are of a superior standard.
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Bank of St Vincent & the Grenadines
The newest commercial banking entity in Saint Vincent, Bank of St. Vincent and the Grenadines Limited, launches formally on Monday, May 31st in the nation’s capital, Kingstown. The highly anticipated launch marks the official transformation of the former National Commercial Bank (NCB) into the newly branded bank. Bank of St. Vincent and the Grenadines has emerged from the acquisition of the former NCB by East Caribbean Financial Holding Company (ECFH), a regional financial services group headquartered in Saint Lucia.
Under the tag line, ‘The bank that gives me more’, Bank of St. Vincent and the Grenadines promises a suite of innovative financial products and services that are tailored to meet the needs of its individual and business customers. The bank is keen to emphasise its commitment to the local community which it serves and that its capacity to do so has been enhanced considerably by the financial strength and expertise of its parent company, ECFH. The highest standard of customer care and service is a top priority for Bank of St. Vincent and the Grenadines as it seeks to redefine the commercial banking landscape. The bank is poised to launch a major advertising campaign that includes television and radio commercials, billboards, brochures and other paraphernalia all in an effort to familiarize the public with its corporate identity and message.
Mr. Derry Williams is the Managing Director of Bank of St. Vincent and the Grenadines Ltd. and the Board of Directors which includes Mr. Williams is comprised as follows: Errol Allen (Chairman), Andre Iton (appointed by ECFH), Evelyn Jackson (appointed by Government of Saint Vincent and the Grenadines), Judith Veira (Government of Saint Vincent and the Grenadines), Godwin Daniel (Government of Saint Vincent and the Grenadines), Victor Eudoxie (appointed by ECFH), Robert Norstrom (appointed by ECFH).
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