National Bank of Dominica

This article refers to the National Bank of the Commonwealth of Dominica and not the Dominican Republic.

National Bank of Dominica

Type	private company
Industry	Bank
Founded	Roseau, Dominica, - 1976
Headquarters	64 Hillsborough Street, Roseau, Dominica
Key people	Michael Bird - Managing Director Patrick Pemberton - Chairman of the Board
Products	Financial services
Revenue	47.7m XCD (2008) [1]
Employees	131
Website	http://www.nbdominica.com/

The National Commercial Bank of Dominica was created by Act No 27 of 1976 by the Parliament of Dominica (under the name National Commercial and Development Bank of Dominica) The bank officially opened for business on March 15, 1978 with the Agricultural Industrial and Development Bank (AID) bank as a wholly owned subsidiary. In January 1982, the AID Bank was made a separate and independent entity. In 1994, the bank invested in NCB Grenada, jointly, with two other OECS indigenous banks to own 12.5% of that bank. An investment in the Caribbean Credit Card Corporation for the issuance and processing of local and international credit cards was also made. Additionally, the Bank acquired shares in the newly privatized Liat (1974) Ltd and East Caribbean Home Mortgage Bank.

By letter dated October 10, 2003, National Commercial Bank of Dominica was advised by the Government of Dominica of its decision to divest itself of its majority holding in the National Commercial Bank (NCB).This was part of Government of Dominica's strategy to privatize NCB. This decision meant that the NCB Act Chapter 74:02 was repealed and a new company, the National Bank of Dominica Ltd was incorporated to succeed the NCB.

References

1. ^ "Annual Report (2008)". National Bank of Dominica. http://www.nbdominica.com/profile/pdf/nbd_ar_08.pdf. Retrieved 2009-03-12. 

External links

• National Bank of Dominica
• ECCB Press Release
• GRAVITAS press release