A new portfolio mix created opportunities for pursuing business in market segments that were previously not well serviced. This helped to bring about an increase in return on assets and dividends per share.
To support the growing customer base and new lines of business, the bank’s ATM and PoS networks were increased. BNB is now the largest acquirer of plastic and has the widest ATM network in the country. With the widening and deepening of the segments served, BNB took advantage of opportunities for improved earnings by segment through the management of its pricing and service delivery costs. Non-traditional lines, like FX dealings, were enhanced and have now become major contributors to revenue. The resilience and flexibility that the bank has shown in maintaining its market-leading position by varying its tactics to meet changes in the economic environment is evident in the steady improvement of its financial results.
“A hat trick is an amazing feat no matter what the sphere of activity,” says chief executive Robert Le Hunte. “Being named Bank of the Year for Barbados for the third consecutive time and the fourth in five years is a singular achievement. BNB continues to perform commendably, living up to shareholder and customer confidence. Prudent management, innovation and flexibility are the hallmarks of our success. Buttressed by a committed team dedicated to the realisation of our strategic objectives and supported by our parent, Trinidad-based Republic Bank since 2003, BNB continues to lead the financial services sector in Barbados.”
