Bank of Montserrat

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Bank of Montserrat Limited
TypeUnlisted public company
IndustryCommercial Banking
GenreFinancial Services
Founder
HeadquartersBrades, Montserrat
Key people
, Chairman of the Board
, General Manager
Decrease US$4,116,878 (as at September 30, 2019)[1]
Decrease US$1,576,305 (as at September 30, 2019)
Total assetsIncrease US$95,797,640 (as at September 30, 2019)
Total equityIncrease US$13,150,387 (as at September 30, 2019)
Websitewww.bankofmontserrat.ms

The Bank of Montserrat Limited is the only community bank operating in the island of Montserrat.[2] It was incorporated on February 22, 1988 by , and officially offered its banking services to the public on May 3, 1988.

Ownership[]

The bank, which operates as an unlisted public company, is jointly owned by local investors and the Government of Montserrat. As of March 2018, the island's government owned approximately 63% of the bank's total outstanding stock.[3] However, the government, under the Reuben Meade administration had expressed its intentions to fully divest their ownership stake in the bank.[4]

Bruce Farara, a local businessman, is currently the largest individual shareholder in the Bank of Montserrat Limited. As of March 2018, he owns a 3.10% stake in the bank. The heirs of John Osborne, the island's 3rd Chief Minister, also collectively own a 2.44% stake in the bank.

Corporate affairs[]

Board of directors[]

Bank of Montserrat's board of directors consists of the following members:[5]

  • Dalton Lee, Chairman
  • John E. Ryan, Director
  • Bruce Farara, Director
  • Duleep Cheddie, Director
  • Beverly Mendes, Director
  • Venita Cabey, Director
  • Johanathan Johannes, Director
  • Fitzroy Buffonge, Director
  • John P. Osborne, Director
  • Robert Frederick, Director
  • Ivan Browne, Director

Largest Competitors[]

Royal Bank of Canada

External links[]

References[]

  1. ^ "Bank of Montserrat 2019 Annual Report" (PDF).
  2. ^ "Bank of Montserrat Ltd: Company Profile". Bloomberg. Retrieved February 18, 2017.
  3. ^ http://www.bankofmontserrat.ms/wp-content/uploads/2009/10/Bank-of-Montserrat-2018-APO-Prospectus.pdf
  4. ^ "Bank of Montserrat Prospectus 2013" (PDF). Bank of Montserrat Limited. Retrieved February 18, 2017.
  5. ^ "Bank of Montserrat » Board of Directors".
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