The Bank of Nevis Limited (BON) commenced operations on 9 December 1985, two years after the devolution of significant powers to the Nevis Island Administration 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 following objectives:
- Job creation
- Development of Business and Industry
- Improvement in the housing stock
- Mobilization of Savings – Local and Foreign
Beginnings were humble: simple accommodation, a staff of five, and capital of approximately $250,000. The banking environment was competitive with five banks operating in the market. Over the years, The Bank of Nevis Limited has grown to provide banking services not only to the people of Nevis but also to the Federation and the Diaspora.
The Bank of Nevis Limited 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.
Today the Bank of Nevis Limited 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 Limited was the first bank to list its shares on the Eastern Caribbean Securities Exchange (ECSE) in October 2001. It is also a licensed Broker Dealer/Intermediary of the ECSE thereby facilitating the buying and selling of shares listed on the ECSE. Capital resources have grown to over $82.3 million and total assets to over 522.5 million as at 30 June 2020.
The introduction of The Bank of Nevis Limited into the Nevisian financial landscape created tectonic shifts in the development of the island. The Bank has been at the forefront of development providing funding for tourism projects, affordable housing, education, small business development and corporate expansion. It is not only concerned with the economic development of the island but is commitment to building a better Nevis through its social corporate responsibility initiatives in areas of education, sport, culture and health. The Bank’s motto, “Improving the Quality of Life” embodies the ongoing contribution that the Bank makes to the overall development of the island and the entire Federation.