Bank Members - British Virgin Islands

MEMBER BANKS

BRITISH VIRGIN ISLANDS

Development Bank of the Virgin Islands Limited
Ag. Managing Director: Mrs. Doris P. Smith-Scatliffe

P O Box 275, Wickham’s Cay
Road Town, Tortola, British Virgin Islands
Tel; (284) 494 3737/8, Fax: (284) 494 3119
E: Mail: devbankbvi@surfbvi.com

Development Bank of the Virgin Islands Ltd (DBVIL) was incorporated on February 1, 2005 under the Companies Act, Cap. 285, with an authorized share capital of US$15M. However, the bank opened its doors in 1980 as a Statutory Corporation under the British Virgin Islands Development Bank Act 1974. Effective April 1, 2005, the Development Bank of the Virgin Islands (Transfer of Assets & Liabilities) Act, 2004, and the Development Bank of the Virgin Islands (Transfer of Assets & Liabilities) Vesting Order 2005 came into force to facilitate the new direction of the bank. Wholly owned by the Government of the British Virgin Islands, DBVIL is transitioning from a purely developmental type institution and now engages in light commercial activities. In addition to taking deposits, the Bank offers mortgages (commercial and residential), personal and consumer loans. Currently the bank operates from one branch, is staffed by (30) employees and had an asset base of US$72Million as at December 2005.