The Bank of Nevis

What The Bank of Nevis does

The Bank of Nevis Limited is a publicly traded commercial bank headquartered on Main Street in Charlestown, Nevis (Federation of St. Christopher and Nevis), founded in 1985 and listed on the Eastern Caribbean Securities Exchange. It serves personal/retail, business/commercial, youth, senior, and investor customer segments across Nevis and St. Kitts with a full suite of deposit products (Regular Savings, Priority Savings, Checking, Youth Savers, BON Gold Club, Certificates of Deposit), lending products (mortgages, student, land, auto, consumer, and commercial loans), and card products (BON Gold Card, BON Classic Card, BON Visa Debit Card, BON Business Visa Card), plus wire transfers, foreign exchange, letters of credit, merchant services, EFT/payroll processing, night deposit, safety deposit boxes, and a brokerage unit.

The bank's technology stack consists of the B-Online internet and mobile banking platform, the third-party RiskCALM consumer loan origination workflow embedded in the bank website, SSL 128-bit encryption for web security, and a core banking platform that was upgraded in September 2021 as part of the post-acquisition integration of the RBC St. Kitts and RBTT Nevis businesses. It distributes through two primary branches (Charlestown, Nevis and Basseterre/Wellington, St. Kitts), an ATM network across both islands including at ROSS University, and digital channels. The April 2021 acquisition of RBC St. Kitts and RBTT Nevis created a subsidiary (BON Bank Ltd, formerly RBTT Nevis) that is being absorbed into the parent.

The bank earns revenue through interest income on loans and overdrafts, service charges on deposit accounts and transactions (telegraphic transfers, standing orders, audit letters, cheque stops), credit card fees and interest, foreign currency trading spreads as an Authorized Dealer, merchant services fees, and brokerage commissions. Pricing is published on a Schedule of Rates & Charges available on request, with interest rates tied to market conditions and government economic policy. As of June 30, 2016 the bank reported EC$605.2 million in total assets and over EC$57.0 million in total capital resources; the Group reported net profit of EC$8.28 million in FY2018 versus EC$7.05 million in FY2017, and paid a 20 cents per share dividend in FY2018.

Name

The Bank of Nevis

Legal name

The Bank of Nevis Limited

Website

https://thebankofnevis.com

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

The Bank of Nevis Limited is a publicly traded Caribbean commercial bank founded in 1985, providing retail and business deposit, lending, card, foreign exchange, merchant, and brokerage services to individuals and SMBs across Nevis and St. Kitts.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221), Credit Card Issuing (52221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB), Co-Branded Credit Cards (FSAKABAB)

Keywords

• Retail banking services
• Commercial lending products
• Deposit accounts savings
• Credit debit cards
• Online internet banking

Headquarters

HQ city

Charlestown

HQ country

St. Kitts & Nevis

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income from Lending: Interest income from various loan products including mortgages, student loans, land loans, auto/vehicle loans, consumer loans, and commercial lending. Interest rates reflect market conditions and are subject to ongoing review.
2. Service Charges: Service charges for various services connected to movement of money into and out of accounts. Specific charges for loans, security documentation, administration, and specific services such as audit letters, status enquiries, cheque stops, telegraphic transfers, standing orders.
3. Credit Card Operations: Credit card services including BON Gold Card, BON Classic Card, BON Visa Debit Card, and BON Business Visa Card with associated fees and interest charges
4. Brokerage Services: Investment and brokerage services through dedicated brokerage unit
5. Foreign Currency Trading: Authorized Dealer trading in foreign currency with daily quoted exchange rates
6. Merchant Services: Merchant account services for business customers

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

The Bank of Nevis Limited provides retail and commercial banking services to individuals, businesses, and investors in Saint Kitts and Nevis. Its core offerings include deposit accounts (savings, checking, certificates of deposit), consumer and commercial lending (mortgages, auto, student, land, consumer, and business loans), credit and debit card products (BON Gold, BON Classic, BON Visa Debit, BON Business Visa), and supporting services such as wire transfers, foreign exchange, letters of credit, merchant accounts, EFT/payroll processing, brokerage services, and digital banking through B-Online internet and mobile channels.

Product overview

The Bank of Nevis Limited operates a comprehensive retail and commercial banking platform with a full suite of deposit accounts, lending products, card services, and digital banking capabilities. The bank offers personal banking including various savings accounts (Regular, Priority, Youth Savers, BON Gold Club), checking accounts (BON Chequing, VIP Banking), and Certificates of Deposits. Lending products span mortgages, student loans, land loans, auto loans, and consumer loans. Card services include BON Gold Card, BON Classic Card, BON Visa Debit Card, and BON Business Visa Card. Digital channels comprise B-Online internet banking and ATM banking network across Nevis and St. Kitts. The bank also provides commercial services including corporate chequing, letters of credit, merchant accounts, EFT/payroll processing, and investment brokerage services. Following the September 2021 acquisition of RBC/RBTT operations, BON expanded its footprint with BON Bank Ltd as a subsidiary.

Differentiator

Problem solved

Functional benefit

Products and services

• Regular Savings Basic savings account with competitive interest rates for individuals to deposit and grow funds over time.
• Priority Savings Enhanced savings account with priority features and potentially higher interest rates for dedicated savers.
• Checking Accounts (BON Chequing) Standard transactional checking account for everyday banking needs with check-writing and debit card access.
• Youth Savers Savings program designed for young customers to encourage financial literacy and savings habits from an early age.
• BON Gold Club Premium banking program offering enhanced services and benefits for qualifying senior or preferred customers.
• Certificates of Deposits Term deposit accounts with fixed interest rates and maturity periods for customers seeking guaranteed returns.
• Mortgages Home financing loans for purchasing, building, or renovating residential property with flexible repayment terms.
• Student Loans Education financing to help students and families fund higher education expenses.
• Land Loans Specialized loans for purchasing land or vacant lots for residential or commercial development.
• Auto/Vehicle Loans Financing options for purchasing new or used vehicles with competitive interest rates.
• Consumer Loans General-purpose personal loans for various financial needs including debt consolidation, home improvements, and major purchases.
• BON Gold Card Premium credit card offering exclusive benefits and rewards for personal banking customers.
• BON Classic Card Standard personal credit card with basic features and access to credit facilities.
• BON Visa EMV/Contactless Debit Card International Visa EMV/Contactless debit card for secure point-of-sale and ATM transactions linked to customer's checking or savings account.
• Wire Transfers International and domestic money transfer services for sending funds to other banks and financial institutions.
• Foreign Exchange Currency exchange services as an Authorized Dealer, providing competitive rates for foreign currency transactions.
• Safety Deposit Boxes Secure storage services for valuable documents, jewelry, and other items in bank-owned secure vaults.
• B-Online Online Banking Internet and mobile banking platform enabling customers to access accounts, transfer funds, pay bills, and manage finances online 24/7.
• ATM Banking Automated teller machine services for cash withdrawals, deposits, balance inquiries, and mini-statements across multiple island locations.
• Corporate Chequing Account Business checking account for corporate customers to manage business finances and transactions.
• VIP Banking Premium banking services for high-value customers requiring specialized banking relationships.
• BON Business Visa Card Business credit card designed for commercial customers with features supporting business expenses and cash flow management.
• Letters of Credit Trade finance instruments facilitating international business transactions by guaranteeing payment to exporters.
• Merchant Accounts Payment processing services enabling businesses to accept card payments from customers.
• EFT & Payroll Processing Electronic funds transfer services for business payroll disbursement and vendor payments.
• Night Deposit After-hours secure deposit service allowing business customers to make deposits outside regular banking hours.
• Brokerage Services Investment services including securities trading, portfolio management, and investment advice through the bank's brokerage unit.
• Commercial Lending (Financing Your Business) Business financing solutions for small and medium businesses to support operations, expansion, and cash flow needs.

Quantifiable outcome

• Assets of EC$605.2 million as at June 30, 2016
• +2 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature3 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Nevis Cricket Association (NCA)coreStrategic or Co-development Partner · 24 June 2022Major sponsorship partnership for development of cricket in Nevis. BON sponsors the 40 & 35 overs Championship with 5 Division I teams and 7 Division II teams participating in 47 games. BON has also supported the Summer Cricket Coaching Clinic and Keith Arthurton Cricket Academy.
• BON Bank LtdcoreOthers · 3 September 2021Subsidiary created from RBTT Nevis acquisition, operating as separate entity until activities are absorbed into The Bank of Nevis Limited.
• Bank of St. Lucia LimitedminorChannel Partner/ Reseller/ Distributor · 3 February 2017Lead broker dealer for BON's Rights Issue and Additional Public Offering, distributing prospectus and application forms across the Eastern Caribbean Currency Union.
• Caribbean Credit Card CorporationcoreTechnology or IntegrationProvides credit card processing and management services for BON credit cards including personal and business credit card programs. Customers access card information through dedicated 4csonline.com portal.
• Eastern Caribbean Securities Exchange (ECSE)minorOthersRegional securities exchange for the Eastern Caribbean Currency Union where BON's brokerage unit operates and offers investment services.
• Caribbean Association of Banks (CAB)minorOthersIndustry association for Caribbean banks providing networking and industry representation.
• Eastern Caribbean Securities Regulatory Commission (ECSRC)coreOthersRegulatory body overseeing securities in the Eastern Caribbean that approved BON's Rights Issue and Additional Public Offering prospectus.
• International Monetary Fund (IMF)minorOthersInternational financial institution providing financial and technical assistance; BON references IMF resources.
• RiskCALMcoreTechnology or IntegrationThird-party loan processing platform enabling online consumer loan applications including personal and mortgage loans. Provides secure registration, application processing, and message center communication for loan services.
• Eastern Caribbean Securities Exchange (ECSE) Broker DealersminorChannel Partner/ Reseller/ DistributorNetwork of broker dealers in the Eastern Caribbean Currency Union distributing BON's Rights Issue and APO prospectus.

Scale indicators9 records

Recent moves10 records

Expansion highlights6 records

Market position

Competitive moat4 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/thebankofnevis
• LinkedInlinkedin.com/company/the-bank-of-nevis-limited

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Bank of Nevis