Bank of the Cook Islands
Bank of the Cook Islands is the primary privately held domestic bank in the Cook Islands, offering retail, business, and community banking products across physical branches, the TakuBCI mobile app, and internet banking, with 51-100 employees headquartered in Avarua, Rarotonga.
- Company typePrivate
- Founded2001
- HeadquartersAvarua, Cook Islands
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Bank of the Cook Islands does
Bank of the Cook Islands (BCI) is a privately held domestic bank headquartered in Avarua, Rarotonga, and operating as the primary retail and commercial banking franchise in the Cook Islands. Founded in 2001, the bank serves individual consumers, businesses, and community organizations through a vertically integrated suite that includes transactional accounts (Everyday Account, personal and business Cheque Accounts), savings products (My First Saver, Golden Saver, Peoples Saver, Bonus Saver), term deposits (1-24 months), unsecured personal loans up to $20,000, housing and property investment loans, overdraft facilities, and the Vaka Debit Mastercard. Distribution is omnichannel: physical branches across the islands, an ATM/EFTPOS network interoperable with BSP/ANZ, an internet banking platform, and the TakuBCI mobile application on iOS and Android, with TakuEcom extending into merchant e-commerce acquiring.
The bank earns revenue primarily through net interest income on lending and term deposit spreads (term deposit rates range 1.85% to 3.05% p.a.), transaction and monthly account fees (e.g., $7 monthly fee on the Everyday Account, $1.50 ATM withdrawal fees), and foreign exchange/international transfer fees across major currencies including AUD, NZD, USD, EUR, and GBP. Underlying technology is a conventional core-banking stack with self-service digital front ends; no proprietary AI/ML capabilities are disclosed. Marketing is conducted through the bci.co.ck website, a Facebook page, and app store listings, with direct phone/email support as the post-sale channel.
BCI's most material recent strategic development is its October 2024 accreditation as a Direct Access Entity of the Green Climate Fund (Master Agreement signed 5 November 2024 in Incheon, South Korea), which positions the bank to intermediate international climate finance into the Cook Islands. Leadership comprises CEO Jennifer Henry and Board Chair Tatiana Burn. Ownership structure is not publicly disclosed; the bank is privately held with 51-100 employees and no parent company identified.
Bank of the Cook Islands firmographics
Firmographics- Name
- Bank of the Cook Islands
- Legal name
- Bank of the Cook Islands
- Website
- https://bci.co.ck
- Company type
- Private
- Founded year
- 2001
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Bank of the Cook Islands is the primary privately held domestic bank in the Cook Islands, offering retail, business, and community banking products across physical branches, the TakuBCI mobile app, and internet banking, with 51-100 employees headquartered in Avarua, Rarotonga.
- Ownership category
- akta.pro rank
Bank of the Cook Islands industry classification
Industry- Product category
- Retail Banking
- NAICS
- Depository Credit Intermediation (5221)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industry
- SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)
Keywords
Where Bank of the Cook Islands is headquartered
LocationHeadquarters
- HQ city
- Avarua
- HQ country
- Cook Islands
Offices1 record
Markets served
Bank of the Cook Islands business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Interest Income: Traditional banking revenue from lending activities including personal loans, housing loans, and business loans at varying interest rates
- Account Fees and Charges: Monthly fees, transaction fees, and service charges across various account types including Everyday Account ($7 monthly fee), and various transaction fees
- Term Deposit Interest: Interest earned on customer deposits with terms from 1-24 months, rates ranging from 1.85% to 3.05% p.a.
- International Transfer Fees: Fees for international money transfers, telegraphic transfers, and currency exchange services
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Pay-as-you-go | Term Deposits - Fixed term savings with competitive interest rates |
| Subscription | Monthly | Everyday Account - Basic transactional account |
| Subscription | Monthly | Peoples Saver Account - Pay as you go savings account |
| Subscription | Monthly | Golden Saver Account - Senior citizen savings account |
| Other | Monthly | Personal Loans - Unsecured personal lending |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels4 records
Bank of the Cook Islands product offering
Product offeringCore offering
Bank of the Cook Islands (BCI) is a domestic commercial bank providing retail, business, and community banking services across the Cook Islands. Its core offerings include transactional and savings accounts, term deposits, personal and housing loans, business overdraft and sector-specific lending (tourism, retail/wholesale), debit cards, international and inter-island money transfers, foreign exchange, and digital banking through the TakuBCI mobile app and Internet Banking platform.
Product overview
Bank of the Cook Islands (BCI) operates as a traditional retail and commercial bank offering a comprehensive suite of personal, business, and community banking products. The bank's product portfolio spans multiple categories including savings accounts (My First Saver, Golden Saver, Peoples Saver, Bonus Saver), transaction accounts (Everyday Account, Cheque Accounts), lending products (Personal Loans, Housing Loans, Property Investment Loans), and term investments. For business customers, BCI provides specialized banking services across sectors including Business Tourism, Business Retail/Wholesale, Business Investment, and general business banking with overdraft facilities. The bank also offers digital banking services through its TakuBCI mobile app, Internet Banking platform, and TakuEcom e-commerce payment solution. Additional services include international money transfers, foreign exchange, BCI Alerts notifications, SMS OTP authentication, Safe Custody, and motor vehicle registration services. BCI recently achieved accreditation from the Green Climate Fund, positioning itself as a Direct Access Entity for climate financing in the Pacific region.
Differentiator
Problem solved
Functional benefit
Brands
- TakuBCI: Mobile banking application for customers to access their accounts, check balances, and conduct transactions on the go.
- TakuEcom
- Vaka Debit Mastercard
Products and services
- TakuBCI Mobile Banking App
Companies that use Bank of the Cook Islands
Customer profileSegments3 records
Ideal customer profiles3 records
Bank of the Cook Islands technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Bank of the Cook Islands partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Green Climate Fund (GCF)coreBCI signed an Accreditation Master Agreement with the Green Climate Fund on November 5, 2024 at the GCF Headquarters in Incheon, South Korea. The bank was formally accredited as a Direct Access Entity by GCF following the successful outcome of the GCF 40th Meeting of the Board of Directors held in Songdo, South Korea on October 21, 2024. This accreditation allows BCI to access climate finance resources for the Cook Islands.
Scale indicators2 records
Recent moves3 records
Expansion highlights4 records
Bank of the Cook Islands competitors and assessment
Company assessmentDirect peers
- Bank of the Federated States of Micronesia: A state-owned commercial bank serving the Federated States of Micronesia with retail, savings, and loan products across dispersed island geographies - structurally similar to BCI as a small-state domestic bank serving an island archipelago.
- Tonga Development Bank: Tonga's domestic development-focused bank offering personal and SME lending, savings, and remittance services in a small Pacific island economy analogous to the Cook Islands. Closely comparable in size, mandate, and product mix.
- National Bank of Vanuatu: Vanuatu's primary domestic commercial bank serving retail, SME, and government clients with a similar product set - savings, transactions, FX, loans - on a comparable scale to BCI. Directly comparable as another small Pacific island full-service domestic bank.
- Samoa Commercial Bank: A domestic commercial bank in Samoa offering the same mix of retail deposit products (savings, term deposits, everyday accounts), personal and business loans, and remittance services for a small Pacific island market - a near-perfect structural analog to BCI.
Regional players
- Bank of Hawaii: A regional US Pacific bank operating in Hawaii and Pacific island markets offering retail and commercial deposits and lending. Comparable as another regional Pacific bank serving diaspora and small-market customers with similar deposit and loan products.
- Home Finance Company (Fiji): A government-backed Fijian housing-finance institution offering deposit-led mortgage lending in a neighboring Pacific market. Comparable as a regionally focused niche bank expanding lending products similar to BCI's housing and property investment loans.
Broad incumbents
- Westpac Pacific: Westpac maintains Pacific operations (formerly in Cook Islands among other islands), offering full retail and commercial services with regional scale advantages. Comparable as a broad incumbent historically competing with BCI in the Cook Islands.
- Bank South Pacific (BSP): Largest commercial bank across Papua New Guinea and the wider Pacific, including direct card-acceptance interoperation with BCI (BCI customers transact at BSP/ANZ EFTPOS terminals). Comparable as a regional Pacific commercial bank with multi-island distribution, card issuance, and small-business/SME lending focus.
- ANZ Bank Cook Islands / ANZ Pacific: ANZ operates in the Cook Islands and is explicitly listed as a partner bank whose cards are accepted on BCI's ATM/EFTPOS network. It is a broad incumbent offering retail and commercial banking across the Pacific, competing directly with BCI for customer relationships and remittance flows.
Others
- Kiwibank: New Zealand state-owned bank targeting everyday Kiwis with retail savings, term deposits, and personal lending - analogous product positioning to BCI and a key counterparty for NZD-denominated flows and superannuation disbursements that BCI serves on Cook Islands side.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Bank of the Cook Islands social profiles
Digital presenceBank of the Cook Islands financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bank of the Cook Islands leadership team
Management profileNumber of profiles
Profiles2 records
Bank of the Cook Islands funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bank of the Cook Islands M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bank of the Cook Islands
What does Bank of the Cook Islands do?
Bank of the Cook Islands (BCI) is a domestic commercial bank providing retail, business, and community banking services across the Cook Islands. Its core offerings include transactional and savings accounts, term deposits, personal and housing loans, business overdraft and sector-specific lending (tourism, retail/wholesale), debit cards, international and inter-island money transfers, foreign exchange, and digital banking through the TakuBCI mobile app and Internet Banking platform.
Is Bank of the Cook Islands a public or private company?
Bank of the Cook Islands is a private company. It is classified as unknown and is currently operating.
When was Bank of the Cook Islands founded?
Bank of the Cook Islands was founded in 2001. It employs 51 to 100 people.
Where is Bank of the Cook Islands based?
Bank of the Cook Islands is headquartered in Avarua, Cook Islands.
How does Bank of the Cook Islands make money?
Four revenue lines are on record. Interest Income is the primary driver. The others are account Fees and Charges, term Deposit Interest and international Transfer Fees.
Who are Bank of the Cook Islands's main competitors?
Direct peers on record are Bank of the Federated States of Micronesia, Tonga Development Bank, National Bank of Vanuatu and Samoa Commercial Bank. Regional players are Bank of Hawaii and Home Finance Company (Fiji). Broad incumbents are Westpac Pacific, Bank South Pacific (BSP) and ANZ Bank Cook Islands / ANZ Pacific. Kiwibank is listed as an others.
Does Bank of the Cook Islands have an API?
No public API is recorded for Bank of the Cook Islands.
What industry is Bank of the Cook Islands in?
Bank of the Cook Islands's product category is Retail Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs). Its NAICS code is 5221 and its SIC code is 6022.