BIC International Bank Limited was a member of the banking group Banco Espirito Santo (Portugal). Now BIC International Bank operates as a fully consolidated subsidiary of Novo Banco, the successor of Banco Espirito Santo. BIC International Bank Limited is focused on funding activity with non resident clients, through time deposits and issue of bonds.
BIC International Bank Limited has Category B banking license number 100061 issued by the Cayman Islands Monetary Authority. This type of license allows BIC International Bank Limited to conduct banking operations with non-residents and domestic banking business with other Cayman Islands licenced entities.
There is no deposit guarantee scheme in the Cayman Islands: in the case of BIC International Bank Limited failure its depositors will not get any compensation.
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 Cayman Islands.
In the case of BIC International Bank Limited failure its depositors will not be paid out any compensation.