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The Caribbean Development Bank (CDB) is a regional financial institution which was established in October 1969, and began operations in January 1970. Its headquarters are located at Wildey, St. Michael , Barbados .
Regional members are Anguilla , Antigua and Barbuda , The Bahamas, Barbados , Belize , the British Virgin Islands, the Cayman Islands, Colombia , Dominica , Grenada , Jamaica , Mexico , Montserrat , St. Kitts and Nevis , St. Lucia , St. Vincent and the Grenadines , Trinidad and Tobago , the Turks and Caicos Islands and Venezuela . Of these, Colombia , Mexico and Venezuela do not borrow from the Bank. Non-regional members are Canada , China , Germany , Italy and the United Kingdom .
Subscribed share capital is US$705.04 million, of which US$549.3 million is callable capital and US$155.6 million is paid-up capital. The largest shareholders are Trinidad and Tobago (19,342 shares), Jamaica (19,342), Canada (10,402) and the United Kingdom (10,402). CDB is committed to the harmonious economic growth and development of the member countries in the Caribbean and promoting economic cooperation and integration among them, having special and urgent regard to the needs of the less developed countries of the Region.
In its operations to December 31, 2004, CDB had net approvals (loans, contingent loans, equity and grants) equivalent to US$113.3 million. The Bank has a wide sectoral portfolio, comprising transport, communication and sea defence (22.8% of net total financing), manufacturing and mining (15.2%), social services (19.8%), agriculture, forestry and fishing (13.4%), multi-sector and other (18.1%), power, energy, water (7.7%) and tourism (3.1%). Part of this emphasis is delivered through financial intermediaries in the borrowing member countries, an arrangement which helps in the development of the critical financial sector.
In 1992, 1995, 1996 and 1998, CDB made private placements in the New York market for USD30 million, USD11.5 million, USD35 million and USD50 million respectively. All of these offerings have been rated Aaa by Moody's Investors' Services. In February 2000, CDB secured a loan equivalent to USD60 million on the Japanese capital market. The Bank secured a borrowing of 12.5 billion yen - or USD100 million - in 2001, also on the Japanese capital market. In 2004, the Bank successfully floated a USD150 million Note on the international capital markets. Of this sum, approximately USD96 million will be used to finance the operations of the Caribbean Court of Justice. The issue was rated Aaa/AAA by Moody's Investors' Service and Standard and Poor's.
Caribbean Development Bank
P.O. Box 408 Wildey, St. Michael , Barbados , West Indies
Tel: (246) 431-1600 Fax: (246) 426-7269 e-mail: info@caribank.org |
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Scotiabank is the leading bank in the Caribbean and Central America . For more than 115 years, Scotiabank has supported people in communities across 24 countries in the region. It is the only Canadian bank with operations in four of the seven Central American countries, namely Costa Rica , Belize , Panama and El Salvador . With nearly 260 branches and offices and a network of about 535 automated banking machines (ABMs) in the Caribbean and Central America, Scotiabank provides over two million customers with a broad range of personal and commercial banking services. Scotiabank is one of North America's premier financial institutions and Canada 's most international bank. With approximately 48,000 employees, Scotiabank Group and its affiliates serve about 10 million customers in some 50 countries around the world. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. With US$229 billion in assets (as at October 31, 2004), Scotiabank trades on the Toronto (BNS) and New York (BNS) Stock Exchanges.
For more information please visit www.scotiabank.com. |
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St. Lucia Electricity Services Limited (LUCELEC) was formed on 9 th November 1964 and assumed responsibility for electricity operations in St. Lucia on the ‘Appointed Day' – 1 st July 1965. At the time of its formation, LUCELEC acquired the electricity assets of the Castries City Council, then the Castries Town Council, and the Government of St. Lucia in return for equity interest in the Company of 28.2% and 18.7% respectively. The remaining 53.1% was owned by the Commonwealth Development Corporation.
At the time LUCELEC began operating, it was valued at approximately E.C. $1.3m. Today, the Company has assets in excess of E.C. $ 331m. LUCELEC's 11,200, 000 issued ordinary shares are listed on the Eastern Caribbean Securities Exchange and are held by approximately 695 shareholders. The Government of St. Lucia is the sole owner of the Company's 520,000 issued non-voting ordinary shares.
St. Lucia Electricity Services Limited uses diesel oil to generate electricity but already has plans in place for a pilot wind power project and as other technologies become competitive the Company shall continue to explore the possibilities in keeping with its mandate to provide the people of St. Lucia with an economic and efficient supply of electricity.
For additional information about the Company, visit us on our website: www.lucelec.com.
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RBTT … An Essential Part of the Caribbean
With roots in the Caribbean more than 100 years old, RBTT is the number one Caribbean-owned banking and financial services Group comprising over 34 companies. RBTT has one of the largest networks of financial organisations in the region including ten (10) licensed commercial banks with eighty-three (83) bank branches operating in Trinidad & Tobago, Jamaica, Barbados, St. Lucia, Antigua, St. Vincent and Bequia in the Grenadines, Grenada, Curacao and Bonaire, St. Maarten and Saba, Aruba and Suriname. Through a comprehensive range of banking and financial services, RBTT caters to individuals, conglomerates, multi-national corporations, general commercial entities and state sectors.
Key members of the RBTT Group include:-
• RBTT Merchant Bank Limited
• RBTT Trust Limited
• West Indies Stockbrokers Limited
• RBTT Trust Corporation
RBTT Merchant Bank Limited, one of the Group's flagship subsidiaries, has been instrumental in developing, shaping and contributing to the capital markets in the Caribbean region. Over the last seven years, RBTT Merchant Bank has been a major provider of specialised financial services to governments, public-sector institutions and private-sector organisations in the English-, Spanish- and Dutch-speaking Caribbean . Indeed, RBTT Merchant Bank holds the distinction of being the region's leading merchant bank, accounting for a significant portion of investment and capital-market funding in the region.
RBTT Trust Limited is an important subsidiary of the Group and has earned a reputation in the industry and among its many clients for its expertise and professionalism in the execution of its services. RBTT Trust offers the full range of individual and corporate trustee services, and has developed and delivered imaginative asset management services, employee stock ownership plans and compensation and benefit plans.
West Indies Stockbrokers Limited (WISE) is the largest of six stock broking firms operating in Trinidad and Tobago and maintains a dominant position in the domestic marketplace, serving a wide cross-section of individual, corporate and institutional clients. Its services span the range of offerings pertinent to securities and include stock broking, advising on take-overs and mergers, formation and floating of unlisted companies, issue of equity, offers for sale and financial and investment consultancy.
RBTT Trust Corporation is an off-shore bank and trust company [providing trusteeship and administrative services for wealthy individuals and entities domiciled off-shore. It is the largest of its type in Barbados with a wide range of clients from outside of the Caribbean region.
About RBTT Financial Group
RBTT Financial Group is the region's leading network of Caribbean-owned financial services institutions, with an asset base in excess of US$5.5 billion. The Group comprises more than 34 companies in 12 jurisdictions, employing over 4,600 people, and its shares are traded on the Trinidad and Tobago , Jamaica and Barbados Stock Exchanges.
For more information about RBTT, go to www.rbtt.com
Members of the RBTT FINANCIAL GROUP: RBTT BANK Limited, RBTT Merchant Bank Limited, RBTT Trust Limited, RBTT Bank Caribbean Limited, RBTT Bank (SKN) Limited, RBTT Bank Grenada Limited, RBTT Bank N.V., RBTT Bank Aruba N.V., RBTT Bank ( Suriname ) N.V., RBTT Bank Jamaica Limited, RBTT Bank Barbados Limited, RBTT International N.V., RBTT Trust Corporation, RBTT Financial Advisors Limited and RBTT ROYTEC.
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Cable & Wireless St. Kitts & Nevis, formerly St. Kitts and Nevis Telecommunications Limited (SKANTEL) operates the local and international telephone service in St. Kitts and Nevis . This followed a joint venture agreement between Cable & Wireless and the Government of St. Kitts and Nevis in 1985, which formed the then SKANTEL. As part of Cable & Wireless' thrust to establish a global identity and positively leverage the Cable & Wireless brand, the company was re-branded to Cable & Wireless St. Kitts and Nevis Limited in 1999.
Following the sale of shares in 1990 and 1992, the respective share holdings are: Cable & Wireless 65%, Government 17% and the public 18%. Government's representatives on the company's Board are Mr Joseph Edmeade and Mr Fred Lam OBE and Mr Theodore Hobson from the Nevis Island Administration.
Our switching facilities were upgraded to MMP 13 in November, 2000. Services offered include International Direct Dialing, ADSL, Frame Relay, Direct Connect, International Private Circuits, Roaming, Managed Router Service (MRS), SmartChoice Business, Corporate Choice.
St. Kitts and Nevis is linked to the Eastern Caribbean Fibre optic System (ECFS) which was commissioned in 1995. The company employs 115 persons.
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The Bank was incorporated as a limited liability company under the Companies Act Chapter 335 on 15 February 1971, was re-registered on 14 April 1999 under the new Companies Act No. 22 of 1996, and is subject to the provisions of the Banking Act of St Kitts and Nevis No. 6 of 1991. In 1972 the Bank established the National Bank Trust Company (St. Kitts-Nevis-Anguilla) Limited as a wholly owned subsidiary of the Bank and in 1973 it established the National Caribbean Insurance Company as a wholly owned subsidiary of the Trust Company. To meet the needs of the market, the Bank established St. Kitts and Nevis Mortgage and Investment Company Limited in 2001. The Bank, Trust, Insurance, and Mortgage Companies comprise the National Bank Group of Companies.
The Bank has significantly expanded it operations from a single branch in 1971 to its present network of seven offices. These include a branch at its headquarters located in Basseterre, St. Kitts, a branch in Nevis and five other branches in St. Kitts located in Sandy Point, Saddlers, the Pelican Mall, Basseterre and Robert Llewellyn Bradshaw International Airport. The Card Center of the Bank processes Electronic Banking Transactions and provide support to its customers who use these services.
The Bank provides a full range of retail banking services and corporate banking facilities. With a network of reputable international correspondents, it is able to serve its customers and clients with the highest degree of reliability, confidentiality, accuracy and speed worldwide.
The Bank is the industry leader in systems and technology in the sub-region and is highly rated regionally and internationally for its technological sophistication and operational excellence. In 1991, the Bank was the first in the sub-region to introduce ATM's to its customers and since that time has expended considerable resources to provide an extensive network of ATMs across St. Kitts-Nevis. Currently, there are thirteen (13) ATMs in operation with advanced plans to increase the number to twenty (20). In addition to its ATMs, the Bank offers the NatBank International VISA (r) Debit Card, Telephone-Banking Services, Electronic Payment of utility bills and will soon be launching its Internet banking service and Natbank Prepaid Cards.
The National Bank Trust Company provides a variety of trust, investment, corporate, secretarial and trustee services. The Trust company also provides Real Estate Development Services, at present developing land at Camp's Estate for first time homeowners. The National Caribbean Insurance Company is the leading Insurance Company in St. Kitts-Nevis, providing all classes of insurance coverage including Group Scheme, Family Health Plan, Fire & Extraneous Perils, Motor, Personal Accident, Loss of Profits, Marine, Travel, Money, Burglary, Public & Products Liability, Employer's Liability and Contractors All Risks. The St. Kitts & Nevis Mortgage and Investment Company Ltd, a wholly owned subsidiary of the Bank, was incorporated in 2001. The company provides facilities for real estate secondary market transactions and property investment opportunities in the form of mortgage certificates and mutual funds.
The provision of all of these services is in keeping with the Bank's aim of using the opportunities of electronic technology to globalise its marketplace and customer base.
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