Bank of Montserrat

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 Hensey Fenton, and officially offered its banking services to the public on May 3, 1988.

Bank of Montserrat Limited
TypeUnlisted public company
IndustryCommercial Banking
GenreFinancial Services
FounderHensey Fenton
HeadquartersBrades, Montserrat
Key people
Dalton Lee, Chairman of the Board
Baldwin Taylor, General Manager
Increase US$4,065,799 (as at September 30, 2021)[1]
Decrease US$508,323 (as at September 30, 2021)
Total assetsIncrease US$157,756,463 (as at September 30, 2021)
Total equityIncrease US$16,062,096 (as at September 30, 2021)
Websitewww.bankofmontserrat.ms

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

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 ยป Board of Directors".
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