Turks & Caicos Banking Company Ltd

Established in 1980, Turks & Caicos Banking Company is a private offshore bank under Swiss management, specialized in investment banking and portfolio management. Turks and Caicos Banking Company is not directly engaged in the formation or management of offshore companies. However, the company provides advisory services on the formation or management of offshore companies and trusts.

Services

Investment Banking
Portfolio Management

Financials

Total Assets (2017)
76.39 mln USD  (+8.72%)
Annual Profit (2017)
1.12 mln USD  (+86.24%)

Turks & Caicos Banking Company Ltd is the 4th largest bank in the Turks and Caicos Islands in terms of total assets. In 2017 its total assets were 76,39 mln USD, providing the bank with the market share of 8.53%. In 2017 the bank's annual profit was 1,12 mln USD.

There is no deposit guarantee scheme in the Turks and Caicos Islands: in the case of Turks & Caicos Banking Company Ltd failure its depositors will not get any compensation.

Contacts

The Regent Village, Unit H102, Grace Bay Road, Providenciales, Turks and Caicos Islands
777
649 941 4994
649 941 5943

Turks & Caicos Banking Company Ltd is headquartered in Providenciales.

Bank Identifiers

BIC (SWIFT)
TCBCTCGP

Business Summary

Eligible Clients
natural persons and legal entities; both local and offshore
Services
investment banking
portfolio management

Turks & Caicos Banking Company Ltd provides products and services in the areas of investment banking, portfolio management. Turks & Caicos Banking Company Ltd makes its solutions available to natural persons and legal entities; both local and offshore.

Financial Positions

Total Assets (2017)
76.39 mln USD  (+8.72%)
Total Equity (2017)
13.02 mln USD  (+7.25%)

In 2017 total assets of Turks & Caicos Banking Company Ltd were 76.39 mln USD. Growth compared to the previous period (2016) was 8.72%. The evolution of the total assets of Turks & Caicos Banking Company Ltd is shown at Chart 1 below.

Total Assets of Turks & Caicos Banking Company Ltd.

Chart 1. Total Assets of Turks & Caicos Banking Company Ltd.

Recent changes in total assets of Turks & Caicos Banking Company Ltd and its main components are shown in Table 1.

2016 2017 % change
Cash and deposits with Central Banks 25.9 31.1 +19.97%
Investments 26.4 20.1 -23.65%
Loans 14.5 21.8 +50.22%
Total Assets 70.3 76.4 +8.72%
Table 1. Recent changes in total assets of Turks & Caicos Banking Company Ltd (mln USD).

Recent changes in total liabilities of Turks & Caicos Banking Company Ltd and its main components are shown in Table 2.

2016 2017 % change
Amount owed to customers 58.0 63.1 +8.88%
Total Liabilities 70.3 76.4 +8.72%
Table 2. Recent changes in total liabilities of Turks & Caicos Banking Company Ltd (mln USD).

Profit and Loss

Annual Profit (2017)
1.12 mln USD  (+86.24%)

Recent changes in gross profit of Turks & Caicos Banking Company Ltd and its main components are shown in Table 3.

2016 2017 % change
Interest Income 1.5 1.9 +25.64%
Interest Charges -0.1 -0.1 +52.35%
Net Interest Income 1.4 1.8 +24.06%
Net Commission Income 0.5 0.5 -4.21%
Table 3. Recent changes in gross profit of Turks & Caicos Banking Company Ltd (mln USD).

In 2017 annual profit of Turks & Caicos Banking Company Ltd was 1.12 mln USD. Growth compared to the previous period (2016) was 86.24%. The evolution of the annual profit of Turks & Caicos Banking Company Ltd is shown at Chart 2 below.

Annual Profit of Turks & Caicos Banking Company Ltd.

Chart 2. Annual Profit of Turks & Caicos Banking Company Ltd.

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

Total Assets (2017)
4th (market share 8.53%)

In 2017 Turks & Caicos Banking Company Ltd was ranked the 4th largest bank in the Turks and Caicos Islands in terms of total assets, having 8.53% of the domestic market share.

Market share of Turks & Caicos Banking Company Ltd (among banks in the Turks and Caicos Islands)

Chart 3. Market share of Turks & Caicos Banking Company Ltd (among banks in the Turks and Caicos Islands)

Several banks having the market shares and ranks closest to Turks & Caicos Banking Company Ltd are shown below.

RankNameTotal AssetsMarket Share
3British Caribbean Bank Limited117.05 mln USD13.07%
4Turks & Caicos Banking Company Ltd76.39 mln USD8.53%
5Bordier Bank (TCI) Ltd66.45 mln USD7.42%
 

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 Turks & Caicos Banking Company Ltd 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 Turks & Caicos Banking Company Ltd and its components are shown in the table below.

BIC  TCBCTCGP
Bank BIC Code  TCBC
Country Code  TC (Turks and Caicos Islands)
Location Code  GP
Branch Code  -