Bank of the Bahamas
Proceeding along a carefully designed expansion programme, the Bank of the Bahamas has revealed that growth of its net earnings has outpaced overall industry growth. For the year ended June 2000, net income increased by 35% to $4.6 million. During July the Bank issued a stock offering to existing shareholders, with funds raised targetted towards expansion plans. Between July 11 and August 11, two million unissued shares will be brought to market, with first preference for participation given to the existing 4,000 shareholders.
By the end of August, the Bank of the Bahamas plans to expand product offerings with trust services, with the incorporation of the Bank of the Bahamas Trust Ltd.