The Bank of The Bahamas has opened its latest branch, bringing to eleven the total number throughout the Islands of The Bahamas. Official opening ceremonies for the new full service branch in Hooper’s Bay, Exuma were held last week. According to Bank Officials, plans include more branches in the Family Islands.
Managing Director Paul McWeeney said, *”We proudly open this full-service branch of Bank of The Bahamas adding Exuma to the islands where we have taken banking and the provision of financial services to places and people where those services are needed.”* He added that the Bank of The Bahamas will have a significant impact in empowering Bahamians to participate in continuing, careful, prudent and planned growth of Exuma. Currently, the Bank has branches in New Providence, Grand Bahama, Andros, San Salvador, Inagua and now Exuma.
The Bank recently revealed that net income for the first half of its 2006 fiscal year rose by some 17%, with second quarter net income increasing by 28%. There has been a 40% jump in loans and advances, reportedly driving a $132 million increase in assets over one year.