Bank of St. Vincent and the Grenadines

What Bank of St. Vincent and the Grenadines does

Bank of St. Vincent and the Grenadines (BOSVG) is the indigenous commercial bank of St. Vincent and the Grenadines, founded in 1977 as National Commercial Bank (SVG) Ltd. and headquartered in Kingstown. It operates 9 branches spanning the mainland and the Grenadine islands, supported by 15 ATM locations, approximately 20 ATMs, and more than 500 point-of-sale terminals, plus an exchange bureau at Argyle International Airport. The bank serves retail depositors, SMEs, corporate clients, and the Vincentian diaspora through savings and chequing accounts, foreign currency accounts, mortgages, personal and commercial loans, Visa credit cards priced at roughly 19.5% APR, wire transfers, merchant services, and a full-service brokerage and securities dealership that it has operated as the only such license holder in SVG since 2001.

Revenue is generated from multiple streams: net interest income on the loan book, transaction and account fees, credit card interchange, brokerage and wealth management commissions, wire transfer and foreign exchange income, merchant acquiring fees, and ATM/EFT fees. Distribution is hybrid, combining the physical branch and ATM/POS network with a digital suite branded "iBank" that supports online and mobile banking. The bank is ISO PCI certified for payment security, listed on the Eastern Caribbean Securities Exchange since June 10, 2016, and has a concentrated shareholding structure with the Government of SVG holding approximately 42.4%, ECFH Limited and the National Insurance Services each holding around 20%, and the balance held by the public and staff.

In March 2023 BOSVG acquired the SVG operations of CIBC FirstCaribbean International Bank, a transaction that materially expanded its customer base, deposits, and loan portfolio and continues to drive integration-led growth. Subsequent physical expansion has included Chateaubelair and Pembroke branches (December 2023) and recommissioned ATM services on Union Island (2025), alongside new senior leadership appointments across 2025-2026 and receipt of the 2025 ECCU Bank of the Year Award.

Name

Bank of St. Vincent and the Grenadines

Legal name

Bank of St Vincent & the Grenadines Ltd

Website

https://bosvg.com

Company type

Public

Founded year

1977

Operating status

Operating

Headcount range

51–100 employees

Short description

Bank of St. Vincent and the Grenadines is the indigenous commercial bank of SVG, operating 9 branches, a digital iBank platform, and the only full-service brokerage in the country. It serves retail, SME, corporate, and diaspora customers with lending, payments, FX, and wealth management services.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211)

SIC

Commercial Banks, Nec (6029)

akta.pro primary industry

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

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Retail banking services
• Commercial banking
• Wealth management
• Digital banking
• Merchant services

Headquarters

HQ city

Saint George's

HQ country

Grenada

Offices14 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Interest income earned on loan portfolio including education loans, consumer loans, mortgages, and commercial loans, offset by interest paid on deposit accounts. Credit card interest rate is 19.5% per annum.
2. Account Maintenance and Transaction Fees: Monthly or per-transaction fees on chequing and savings accounts, cheque processing fees, stop payment fees, and other standard banking charges. Minimum opening deposits: $10 savings, $500 chequing.
3. Credit Card Interchange and Fees: Merchant discount rates on card transactions, annual credit card fees, and interest charges on revolving balances. Cards available in EC and US Dollar denominations.
4. Wealth Management and Brokerage: BOSVG operates as a licensed broker-dealer on the Eastern Caribbean Securities Exchange (ECSE), trading fixed-income securities on the Regional Government Securities Market (RGSM). Revenue from brokerage commissions on primary and secondary market trades of government treasury bills, bonds, corporate bonds, and mutual funds. Minimum investment products starting at EC$5,000.
5. Wire Transfer and Foreign Exchange: Commission and foreign exchange margin earned on inbound and outbound SWIFT wire transfers, SWIFT transfers conducted at the day's selling rate with commission. Foreign currency transactions include a transaction fee.
6. Merchant Services: POS terminal rental, swipe-on-the-go mobile card acceptance, and eCommerce payment processing for merchants. Competitive discount rates charged to card-accepting merchants.
7. ATM and EFT Transaction Fees: Fees for ATM cash withdrawals, deposits, balance inquiries, and ECACH Electronic Funds Transfer processing for corporate payroll and individual bank-to-bank transfers.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels11 records

Core offering

Bank of St. Vincent and the Grenadines is a commercial bank offering deposit products (savings, chequing, fixed deposit accounts), lending products (education, mortgage, consumer/SME loans), payment cards (Visa debit and credit cards, ATM card), digital banking (iBank online/mobile/SMS), merchant acquiring services, and wealth management through its broker-dealer operations on the Eastern Caribbean Securities Exchange. It serves individual, SME, corporate, and diaspora customers across St. Vincent and the Grenadines through 9 branches, 20 ATMs, and 500+ POS terminals.

Product overview

Bank of St. Vincent and the Grenadines (BOSVG) operates as a diversified financial services institution offering a comprehensive banking platform built around its core iBank digital banking suite. The product portfolio encompasses deposit products (Basic Savings, Savings, Fixed Deposit, Junior Savers, and Chequing accounts in Personal and Business variants), credit products (Education Loans, Mortgages, Consumer Loans, and the ECPCGC MSME financing programme), card products (EZ Access ATM Card, iBank Visa Debit Card, and 4Cs Visa Credit Card in Classic/Gold/Business tiers), and transaction services (Wire Transfers via SWIFT, ECACH EFT, Utility Bill Payments, Standing Orders, Night Deposit, Safety Deposit Boxes). The iBank platform integrates online banking, mobile app, and text banking capabilities to deliver these services digitally. Wealth Management services including government securities, corporate bonds, and mutual funds are offered through its broker-dealer subsidiary. Merchant services include e-commerce payment platform and mobile card processing for business customers.

Differentiator

Problem solved

Functional benefit

Products and services

• iBank Digital Banking Suite BOSVG's comprehensive digital banking suite encompassing online banking, mobile banking app, and text banking services. Provides 24/7 account access, fund transfers, bill payments, wire transfers, peer-to-peer payments, and mobile top-up capabilities for Flow and Digicel, for individual and business customers in SVG.
• Savings Accounts Range of savings products including Basic Savings Account (fee-free, 2% p.a. interest, no minimum opening deposit), Standard Savings Account (24-hour ATM access, online bill payment), and Junior Savers Account (for children birth to 18, $10 minimum opening, with ATM card). For individual customers across all life stages.
• Fixed Deposit Accounts Term deposits with competitive interest rates where interest is paid on maturity. Minimum deposit of $5,000 with no additional deposits or withdrawals until maturity. Early redemption incurs interest penalty. For individual and business customers seeking higher-yield savings.
• Chequing Accounts Personal and business chequing accounts with on-demand fund access and real-time online banking. Includes Senior Chequing Account (age 55+, $500 minimum opening, no fees) and Personal Business Chequing for sole traders and partnerships. For individuals and businesses.
• Education Loans Loans for undergraduate and postgraduate studies as well as professional qualifications. Principal repayment commences three months after employment date or six months after study completion, whichever comes first. For students pursuing further education.
• Mortgage Loans Home financing for purchasing, building, or renovating properties. Competitive mortgage terms with calculator tools available for repayment planning. For individual customers seeking home financing.
• Consumer Loans Personal consumer loans and overdrafts for purchasing vehicles and meeting other financial needs. Quick, hassle-free approval with competitive rates, available with online loan calculator for repayment planning. For individual customers.
• ECPCGC Programme (MSME Financing) Small to medium enterprise financing program in partnership with the Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC, established May 7, 2018), facilitating additional financial intermediation for MSMEs in SVG through partial credit guarantees. For small and micro enterprises.
• EZ Access ATM Card Basic ATM card providing 24-hour access to account balances, cash and cheque deposits, bill payments, and account transfers through the largest ATM network in St. Vincent & the Grenadines with 15 locations and 20 ATMs. For individual customers.
• iBank Visa Debit Card International Visa debit card linked directly to savings account, accepted at ATMs and Point-of-Sale terminals locally, regionally, and internationally. Features transaction notifications via Visa Purchase Alerts and fraud monitoring. For individual customers.
• 4Cs Visa Credit Card Visa credit card available in EC and US Dollar denominations with Classic, Gold, and Business tiers. Worldwide acceptance for internet shopping, ATM cash withdrawals, and Point-of-Sale payments. Features include cardholder inquiry service, emergency card replacement, fraud monitoring, and minimum credit limit of $1,000. Interest rate 19.5% per annum. For individuals and businesses.
• Wire Transfers International wire transfer services via SWIFT network enabling funds transfers to and from any part of the world with same-day credit and transactions at the day's selling rate plus commission. For individuals and businesses.
• ECACH EFT Service Eastern Caribbean Automated Clearing House Electronic Funds Transfer service enabling faster bank-to-bank transactions within the ECCU with enhanced security and reduced processing time through the ECCB network. For individuals and businesses.
• Wealth Management (Broker-Dealer Services) Full-service broker-dealer licensed by the East Caribbean Securities Regulatory Commission since 2001, offering Regional Government Treasury Bills and Bonds (starting at EC$5,000), Corporate Bonds, Mutual Funds, and Primary and Secondary Market brokerage services on the ECSE and Regional Government Securities Market (RGSM). For individual and institutional investors.
• Corporate Banking Business banking services including dedicated corporate officer, corporate credit cards, overdraft facilities, iBank access, and merchant services for card payment processing. For medium and large businesses, companies, and corporations in SVG.
• Small Business Banking SME banking with dedicated SME Bank Officer, favorable interest rate loans, iBank services, and digital fund transfers for small and micro enterprises across all sectors in SVG. Includes business chequing accounts, overdraft facilities, and merchant POS services.
• Merchant iServices (E-Commerce) E-commerce payment platform and mobile card processing (Swipe on the Go) for merchants to accept card payments online 24/7 or via mobile device, with integration support provided. For business customers seeking to accept card payments.
• Diaspora Banking (Homecoming) Specialized banking services for Vincentians in the diaspora, including account opening, loan processing, and brokerage services, with dedicated customer service and iBank access under the 'Homecoming' initiative. For Vincentians abroad returning or maintaining financial ties to SVG.
• Utility Bill Payments Automated bill payment service debiting customer accounts to pay utility companies including VINLEC (electricity), CWSA (water), LIME (telecom), Courts, and Singer, updated daily. For individuals and businesses.
• Safety Deposit Boxes Secure storage service for valuables and documents available 24 hours a day, 365 days a year. For individual and business customers.
• Night Deposit Service After-hours cash deposit facility using a lockable wallet deposited through a night safe, allowing businesses to securely deposit cash outside banking hours. For business customers.
• Manager's Cheques Bank's certified cheques service for customers with accounts or cash-paying customers wishing to use a certified cheque for goods and services payments. For individuals and businesses.
• Standing Orders Regular payment service for account holders to make recurring payments to named beneficiaries on specific dates without visiting the bank. For individual and business customers.
• Cheque Printing Services Custom cheque book printing services with specifications guide available; customers can also arrange to produce their own compatible cheque books. For individual and business account holders.
• Embassy Statements and Reference Letters Document service providing bank statements and reference letters for embassy and immigration purposes, available in branch or via email. For individual customers.

Quantifiable outcome

• Over 3,000 public votes and interview scores contributed to the 2025 ECCU Bank of the Year Awards selection process, demonstrating strong customer engagement and brand trust across the ECCU region.

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

Feature7 records

Partnerships

Nine partnerships are on record, tiered core and supporting.

• CIBC FCIB International Bank (operations)coreStrategic or Co-development Partner · 27 March 2023On March 27, 2023, the operations of CIBC FCIB International Bank were integrated onto BOSVG's operating platform. This acquisition brought former CIBC FCIB customers onto BOSVG's core banking system, expanding the bank's customer base and operational footprint. All customer accounts, loans, and cards were transitioned including cheque books, online banking credentials, and debit/credit cards. BOSVG's routing number 000000343 was adopted for all wire and EFT transfers.
• CG United Insurance (formerly Massy United) / Pan American Life InsurancesupportingOthers · 23 March 2023CG United Insurance (formerly Massy United) identified Pan American Life Insurance company in St. Vincent as the successor insurer for BOSVG lending product insurance policies following CIBC FCIB's exit. Policy terms remain the same post-transition. Customers receive correspondence from CG United Insurance communicating details of their insurance arrangements.
• Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC)coreStrategic or Co-development Partner · 7 May 2018BOSVG partners with ECPCGC — a corporation established on May 7, 2018, under the ECCB Monetary Council Agreement — to facilitate additional financial intermediation for Micro, Small and Medium Enterprises (MSMEs) in SVG. The ECPCGC provides partial credit guarantees to reduce collateral requirements for SME borrowers. Participating governments include Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.
• East Caribbean Securities Regulatory Commission (ECSRC)coreStrategic or Co-development Partner · 1 January 2001BOSVG operates as a licensed broker-dealer on the Eastern Caribbean Securities Exchange (ECSE), regulated by the ECSRC. The bank was the first and only full-service broker-dealer in SVG since 2001, and was the broker-dealer to bring the first government security to the Regional Government Securities Market (RGSM).
• Eastern Caribbean Central Bank (ECCB)coreOthersBOSVG is regulated under the St. Vincent and the Grenadines Banking Act 2015 by the ECCB. The bank participates in the ECACH (Eastern Caribbean Automated Clearing House) EFT network operated by the ECCB for regional inter-bank transactions and settlements. BOSVG also participates in the ECCB's annual Bank of the Year Awards program.
• Eastern Caribbean Securities Exchange (ECSE)supportingOthersBOSVG is listed on the Eastern Caribbean Securities Exchange (listed June 10, 2016), enabling public trading of BOSVG shares. The bank operates as a broker-dealer on the ECSE for trading government securities and other financial instruments.
• VisacoreTechnology or IntegrationBOSVG issues Visa-branded debit and credit cards (Classic, Gold, and Business tiers) under a Visa licensing agreement. Cards are accepted at ATMs, POS terminals, and online merchants locally, regionally, and internationally. Services include Visa Purchase Alerts, fraud monitoring, and emergency card replacement.
• Caribbean Association of Indigenous Banks (CAIB)supportingOthersBOSVG is a member of the Caribbean Association of Indigenous Banks (CAIB), a regional industry body for indigenous Caribbean financial institutions.
• St. Vincent and the Grenadines Chamber of CommercesupportingOthersBOSVG maintains a relationship with the SVG Chamber of Commerce as a member and partner for business development and SME support initiatives.

Scale indicators5 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Bank of Saint Lucia: Indigenous commercial bank in St. Lucia operating under ECCU regulatory framework, similar to BOSVG. Comparable in scale and product mix — deposit accounts, loans, digital banking, and ATM/POS network across its domestic market. Both serve as primary indigenous financial intermediaries within the Eastern Caribbean Currency Union.
• National Bank of Dominica: Indigenous ECCU commercial bank headquartered in Dominica. Closest functional analog to BOSVG: government-linked shareholding, listed on the ECSE, branch network across its member state, and similar deposit/loan product suite serving retail, SME, and corporate customers within the same regulatory and currency framework.
• Grenada Co-operative Bank: Indigenous commercial bank headquartered in Grenada — the country listed as BOSVG's registered city (Saint George's). Operates within the same ECCU and ECSE frameworks with a comparable product portfolio (deposits, loans, digital banking) targeting retail and SME customers in its domestic market.
• Bank of Nevis (Bank of Nevis International): Indigenous ECCU commercial bank operating in St. Kitts and Nevis with a comparable product suite and regulatory framework. Serves as a regional peer within the same ECSE listing environment and ECCU regulatory perimeter as BOSVG.
• Antigua Commercial Bank: Indigenous commercial bank serving Antigua and Barbuda within the ECCU. Comparable in indigenous heritage, government-linked ownership history, and product breadth (deposits, loans, digital banking). Co-participates in ECCB oversight and the annual ECCU Bank of the Year Awards alongside BOSVG.

Broad incumbents

• Republic Bank (Trinidad and Tobago): Major Caribbean commercial bank with operations across multiple ECCU markets. Competes with BOSVG for corporate deposits, large SMEs, and high-net-worth customers in SVG, offering broader product depth (wealth management, corporate banking, FX) and a larger technology investment base than indigenous peers.
• CIBC Caribbean (formerly FirstCaribbean): Regional incumbent with Caribbean-wide branch network. Particularly relevant as BOSVG's CIBC FCIB acquisition in March 2023 absorbed former CIBC Caribbean customers in SVG. Continues to compete in retail, corporate, and wealth management segments across the region.
• Scotiabank Caribbean: Canadian-headquartered bank with a long-standing Caribbean franchise across multiple ECCU markets. Competes with BOSVG on retail banking, corporate banking, and wealth management with greater scale, technology depth, and cross-border capabilities.

Others

• Eastern Caribbean Central Bank (ECCB): Regional central bank and primary regulator of BOSVG under the SVG Banking Act 2015. Operates the ECACH EFT network used by BOSVG, issues the EC dollar, and runs the ECCU Bank of the Year Awards. Not a competitor but the regulatory and infrastructure counterpart that defines BOSVG's operating environment.
• Eastern Caribbean Financial Holding Company (ECFH): Regional financial services holding company headquartered in Saint Lucia and a 20% shareholder of BOSVG. Owns stakes in multiple indigenous ECCU banks and serves as both BOSVG's shareholder and a regional peer group; its portfolio banks are direct structural analogs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/bosvg
• Facebookfacebook.com/bosvgltd
• LinkedInlinkedin.com/company/bank-of-st-vincent-and-the-grenadines-ltd-bosvg

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

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 Bank of St. Vincent and the Grenadines