Bank of Jamésie: Difference between revisions
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The '''Bank of Jamésie''' is a {{wpl|bank}} founded and based in the [[Rhodesian Overseas Territory]] of [[Jamésie]]. It is the second-largest bank in the territory with 44 percent of the {{wpl|market share}}. The Bank is a wholly owned subsidiary of the [[ | The '''Bank of Jamésie''' is a {{wpl|bank}} founded and based in the [[Rhodesian Overseas Territory]] of [[Jamésie]]. It is the second-largest bank in the territory with 44 percent of the {{wpl|market share}}. The Bank is a wholly owned subsidiary of the [[Greystone Bank|Greystone Bancorp, Inc.]] and is one of four licensed banks in Jamésie. Bank of Jamésie offers full {{wpl|commercial banking|commercial}} and {{wpl|retail banking}} services on Jamésie and the Salomon Islands. The Bank has total of 5 locations, 3 branches and 15 ATMs in Jamésie, X branches and XX ATMs in Belle Isle, and 2 branches and 10 ATMs on the Salomon Islands. | ||
==History== | ==History== | ||
Eric Bennett and a group of local merchants founded the Bank of Jamésie in 1985, as a second bank to compete with [[Ruffer]]. The Bank took over a branch that Greystone Bank had established on the island in 1981 after it became a Rhodesian territory. | Eric Bennett and a group of local merchants founded the Bank of Jamésie in 1985, as a second bank to compete with [[Ruffer]]. The Bank took over a branch that Greystone Bank had established on the island in 1981 after it became a Rhodesian territory. | ||
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After Bennett's arrest and a {{wpl|bank run}} accured, after an accidental release of a letter sent from [[Governor of Jamésie|Governor]] [[Nancy Chen Kelly]] to the [[Reserve Bank of Rhodesia]] (RBOR) outlining her concerns with Bank of Jamésie. Depositors, fearing the worst, withdrew about 20% of deposits from the bank. Which lead the RBOR to place Bank of Jamésie into {{wpl|conservatorship}} in June 2011. | After Bennett's arrest and a {{wpl|bank run}} accured, after an accidental release of a letter sent from [[Governor of Jamésie|Governor]] [[Nancy Chen Kelly]] to the [[Reserve Bank of Rhodesia]] (RBOR) outlining her concerns with Bank of Jamésie. Depositors, fearing the worst, withdrew about 20% of deposits from the bank. Which lead the RBOR to place Bank of Jamésie into {{wpl|conservatorship}} in June 2011. | ||
After 2 years under conservatorship, the RBOR put the Bank of Jamésie and its assets up for auction. The Bank was | After 2 years under conservatorship, the RBOR put the Bank of Jamésie and its assets up for auction. The Bank was reacquired by the [[Greystone Bank|Greystone Bancorp, Inc.]] for R$13.5 million. After which it became known as, "Bank of Jamésie, a division of Greystone Bank” with little to no change or layoffs. Following Greystone’s takeover they announced the appointment of Trevor Kingston, a Vice President at [[Bank of Kingston]], as the new President and CEO. He’s the banks first permanent President and CEO since conservatorship. | ||
In April 2019 Bank of Jamésie acquired National Bank, which was based on the Salomon Islands, for R$58 million. National Bank will rebrand to Bank of Jamésie before the end of 2019. Till then it will continue to operate as National Bank. | In April 2019 Bank of Jamésie acquired National Bank, which was based on the Salomon Islands, for R$58 million. National Bank will rebrand to Bank of Jamésie before the end of 2019. Till then it will continue to operate as National Bank. | ||
==Operations== | ==Operations== | ||
In addition to offering full commercial and retail banking services, Bank of Jamésie also provides securities and advisory services through its Island Advisors, a registered Broker/Dealer and Registered Investment Advisor. | In addition to offering full commercial and retail banking services, Bank of Jamésie also provides securities and advisory services through its Island Advisors, a registered Broker/Dealer and Registered Investment Advisor. | ||
Revision as of 05:22, 14 November 2020
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| Subsidiary | |
| Industry | Finance |
| Founded | 1985 |
| Headquarters | , |
Area served | Jamésie Salomon Islands |
Key people | Trevor Kingston (President and CEO) |
| Products | Financial services |
| Parent | Greystone Bancorp, Inc. |
| Website | bankofjamesie.com.rh |
The Bank of Jamésie is a bank founded and based in the Rhodesian Overseas Territory of Jamésie. It is the second-largest bank in the territory with 44 percent of the market share. The Bank is a wholly owned subsidiary of the Greystone Bancorp, Inc. and is one of four licensed banks in Jamésie. Bank of Jamésie offers full commercial and retail banking services on Jamésie and the Salomon Islands. The Bank has total of 5 locations, 3 branches and 15 ATMs in Jamésie, X branches and XX ATMs in Belle Isle, and 2 branches and 10 ATMs on the Salomon Islands.
History
Eric Bennett and a group of local merchants founded the Bank of Jamésie in 1985, as a second bank to compete with Ruffer. The Bank took over a branch that Greystone Bank had established on the island in 1981 after it became a Rhodesian territory.
In 1999, Bennett through his company, Bennett Financial Group acquired a 45.9% stake in the bank before formally taking full ownership a year later. It was run by Bennett till 2011 when he arrest for his part in the governmental corruption scandal.
After Bennett's arrest and a bank run accured, after an accidental release of a letter sent from Governor Nancy Chen Kelly to the Reserve Bank of Rhodesia (RBOR) outlining her concerns with Bank of Jamésie. Depositors, fearing the worst, withdrew about 20% of deposits from the bank. Which lead the RBOR to place Bank of Jamésie into conservatorship in June 2011.
After 2 years under conservatorship, the RBOR put the Bank of Jamésie and its assets up for auction. The Bank was reacquired by the Greystone Bancorp, Inc. for R$13.5 million. After which it became known as, "Bank of Jamésie, a division of Greystone Bank” with little to no change or layoffs. Following Greystone’s takeover they announced the appointment of Trevor Kingston, a Vice President at Bank of Kingston, as the new President and CEO. He’s the banks first permanent President and CEO since conservatorship.
In April 2019 Bank of Jamésie acquired National Bank, which was based on the Salomon Islands, for R$58 million. National Bank will rebrand to Bank of Jamésie before the end of 2019. Till then it will continue to operate as National Bank.
Operations
In addition to offering full commercial and retail banking services, Bank of Jamésie also provides securities and advisory services through its Island Advisors, a registered Broker/Dealer and Registered Investment Advisor.