British Caribbean Bank Limited

British Caribbean Bank (BCB) was founded in September 1998 and has been providing banking services to both local and offshore clients. BCB offers current accounts and term deposits in US dollars, Canadian dollars and UK pounds. BCB provides customized lending products with flexible loan terms and competitive interest rates.

Services

Retail Banking
Corporate Banking
Brokerage

Financials

Total Assets (2017)
117.05 mln USD  (+4.16%)
Annual Profit (2017)
3.25 mln USD  (+87.86%)

British Caribbean Bank Limited is the 3rd largest bank in the Turks and Caicos Islands in terms of total assets. In 2017 its total assets were 117,05 mln USD, providing the bank with the market share of 13.07%. In 2017 the bank's annual profit was 3,25 mln USD.

There is no deposit guarantee scheme in the Turks and Caicos Islands: in the case of British Caribbean Bank Limited failure its depositors will not get any compensation.

Contacts

101 Governors Road, Providenciales, Turks and Caicos Islands
270
649 941 5028
649 941 5029

British Caribbean Bank Limited is headquartered in Providenciales.

Bank Identifiers

BIC (SWIFT)
BCBATCGP

Business Summary

Eligible Clients
natural persons and legal entities; both local and offshore
Services
retail banking
corporate banking
brokerage
Products
current accounts
term deposit accounts
consumer loans
mortgage loans
commercial and construction financing
international bank accounts

British Caribbean Bank Limited provides products and services in the areas of retail banking, corporate banking, brokerage. The range of products offered by British Caribbean Bank Limited includes current accounts, term deposit accounts, consumer loans, mortgage loans, commercial and construction financing, international bank accounts. British Caribbean Bank Limited makes its solutions available to natural persons and legal entities; both local and offshore.

Financial Positions

Total Assets (2017)
117.05 mln USD  (+4.16%)

In 2017 total assets of British Caribbean Bank Limited were 117.05 mln USD. Growth compared to the previous period (2016) was 4.16%. The evolution of the total assets of British Caribbean Bank Limited is shown at Chart 1 below.

Total Assets of British Caribbean Bank Limited.

Chart 1. Total Assets of British Caribbean Bank Limited.

Recent changes in total assets of British Caribbean Bank Limited and its main components are shown in Table 1.

2016 2017 % change
Cash and deposits with Central Banks 0.6 0.5 -12.88%
Loans 95.1 74.3 -21.87%
Total Assets 112.4 117.0 +4.16%
Table 1. Recent changes in total assets of British Caribbean Bank Limited (mln USD).

Recent changes in total liabilities of British Caribbean Bank Limited and its main components are shown in Table 2.

2016 2017 % change
Deposits 59.3 61.0 +2.85%
Total Liabilities 112.4 117.0 +4.16%
Table 2. Recent changes in total liabilities of British Caribbean Bank Limited (mln USD).

Profit and Loss

Annual Profit (2017)
3.25 mln USD  (+87.86%)

Recent changes in gross profit of British Caribbean Bank Limited and its main components are shown in Table 3.

2016 2017 % change
Interest Income 3.9 3.9 -1.00%
Interest Charges -1.0 -0.4 -58.77%
Net Interest Income 2.9 3.4 +18.73%
Table 3. Recent changes in gross profit of British Caribbean Bank Limited (mln USD).

In 2017 annual profit of British Caribbean Bank Limited was 3.25 mln USD. Growth compared to the previous period (2016) was 87.86%. The evolution of the annual profit of British Caribbean Bank Limited is shown at Chart 2 below.

Annual Profit of British Caribbean Bank Limited.

Chart 2. Annual Profit of British Caribbean Bank Limited.

Market Share and Rank (among banks in the Turks and Caicos Islands)

Total Assets (2017)
3rd (market share 13.07%)

In 2017 British Caribbean Bank Limited was ranked the 3rd largest bank in the Turks and Caicos Islands in terms of total assets, having 13.07% of the domestic market share.

Market share of British Caribbean Bank Limited (among banks in the Turks and Caicos Islands)

Chart 3. Market share of British Caribbean Bank Limited (among banks in the Turks and Caicos Islands)

Several banks having the market shares and ranks closest to British Caribbean Bank Limited are shown below.

RankNameTotal AssetsMarket Share
2RBC Royal Bank (Bahamas) Limited145.30 mln USD16.22%
3British Caribbean Bank Limited117.05 mln USD13.07%
4Turks & Caicos Banking Company Ltd76.39 mln USD8.53%
 

Deposit Guarantee

Deposit Guarantee
No

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

There is no deposit guarantee scheme in the Turks and Caicos Islands.

In the case of British Caribbean Bank Limited failure its depositors will not be paid out any compensation.

BIC

BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.

A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).

BIC of British Caribbean Bank Limited and its components are shown in the table below.

BIC  BCBATCGP
Bank BIC Code  BCBA
Country Code  TC (Turks and Caicos Islands)
Location Code  GP
Branch Code  -