Banco Popular to open branch on VG by August

Banking services are expected to return to Virgin Gorda by the start of August.

Premier and Minister of Finance Andrew Fahie announced this week that Banco Popular will be providing those services to the sister island.

He said the bank will be offering a full complement of banking services to Virgin Gorda three days per week. The Premier did not specify what days the bank will operate nor did he say where on Virgin Gorda the banking institution will be operating.

Fahie said Banco Popular decided to open a branch on Virgin Gorda “following a series of meetings” with himself, Junior Minister for Tourism Shereen Flax-Charles, and with the Representative of the Ninth District where Virgin Gorda is located, Vincent Wheatley.

“Your government was successful in negotiating a banking solution for the residents and visitors on the sister island,” he said.

Virgin Gorda was left without banking services after Scotiabank departed the island last August to cut costs.

Their departure raised great concern among the sister island community whose residents now have to ferry to Tortola to fulfil their banking needs. Scotia’s closure comes a few short months after CIBC First Caribbean also fled the sister island.