BVI News

Banco will open on VG 4 weeks after choosing a site

Banco Popular is estimated to commence operations on Virgin Gorda within four weeks of selecting a location on the island.

Ninth District Representative Hubert O’Neal said the bank gave him that assurance recently.

He also said the bank has already begun its search for a space to open its first-ever sister island branch.

“I had the privilege of touring several possible sites with Dr the Honourable D Orlando Smith, Premier; and Honourable Archibald Christian, the Junior Minister of Tourism; Miss Oran Bowry, Senior Vice-President and Division Manager of Banco Popular (Virgin Islands region) along with her team on Tuesday, September 11,” O’Neal said.

“I wish to thank the Banco Popular organisation for their long, stellar service to the British Virgin Islands and for taking the decision to establish a branch on Virgin Gorda. I also sincerely thank the Premier for his tireless efforts in encouraging Banco Popular to make this vital move as we rebuild the economy of these Virgin Islands,” added O’Neal in a media release on Friday.

Banco was invited to open a branch on the Virgin Gorda after two other financial institutions – Scotiabank and CIBC First Caribbean bank fled sister island.

Their closure raised great concern among the island’s community whose residents now have to ferry to Tortola to fulfil their banking needs.

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  1. VG too says:

    This is wonderful news for the people of Virgin Gorda, and the tourists who come to visit. I hope they find a suitable site quickly.

    Like 14
  2. bubun says:

    What Happened to ANEGADA!!.. OMG!! try reopen First Bank or Put an ATM Machine!!! BS now mehnn.. Just because its Anegada aya wan to say they rich .. SMFH… look aya need to do better than that.. treating us like an outsider..

  3. @bubun says:

    Your and the people of Anegada frustration is very understandable. The people of the sister Islands is in sympathy with you.

    Nonetheless, continue to hold patience.

    From an on looking non business, uninformed civilian, it is believed that the problem probably lies with the banking business upper level decision makers, the general economic establishment and their bottom line trajectory.

    It is believed that all of the factors are not on ground to encourage a banking institution to locate its business.

    This may be a complete unactual theory, but knowing how “money businesses” think, it may not be far fetched.

    So, patience and continued community agitation should be the approaches for obtaining change.

  4. oh yeah says:

    I hope this time the people on Virgin Gorda will use the services that will be offered up there instead of coming to Tortola. No business can operate indefinite without customers taking advantage of what they have to offer. As I said before “use it or loose it”.

  5. VG Insider says:

    This is great news indeed, I am glad to see that Banco Popular is really giving this some serious consideration. In case you were wondering who to really thank for this: Mr. Ignacio Alvarez (CEO PB) and Mr. Carlos Ubinas. Thank you gentlemen for this very kind gesture on behalf of the people of Virgin Gorda.

  6. make the switch says:

    move all you money from scotia and first bank my vg people

  7. You see action! says:

    Fahie is the man. Those meetings with the bank mangers paid off.

    Like 1
    Dislike 18
  8. jvdgirl says:

    You’re not alone. Nothing on JVD either.

  9. E. Leonard says:

    Great news for VG residents, visitors and businesses. It provides peace of mind and some much needed security and convenience for business owners. . Exemplary bit of corporate social responsibility by Banco Popular; it is giving back to the VG/BVI community. Muchas gracias! VG residents, Banco Popular did its part; now, you have to do your part. Banks like other businesses need business to stay in business. Banks provide a vital community service and must turn a reasonable profit to continue to deliver that service.

  10. Good! says:

    Find some place other than the Marina!!!!!

    Like 1
    Dislike 1
  11. Anonymous says:

    Where is the space in VG

  12. One blood says:

    Every company and individual person must close their accounts from first bank, scotiabank and first Caribbean bank and open an account at popular bank, let’s them feel the difference.

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