* As part of a global strategy, Citibank has announced plans to strengthen its customer banking services in The Bahamas, to gain a larger share of the national market. The Bank is restructuring its consumer banking services, installing more ATM machines, and strengthening its main products and services.
* The Colina Financial Group has joined forces with Chancery Corporate Services Limited and Management and Services Company Limited, both of Grand Bahama. The merger will enable CFG to provide Grand Bahamians and foreign investors with a comprehensive range of quality financial services.
* Commonwealth Bank reported that net income available to common shareholders increased by 10.25% for the one year period ending mid year 2000, with profits increasing by some 34%. There was an 18.5% increase in deposits over the previous year, attributed in part to proceeds from the bank’s successful IPO in April and steady growth in the Bahamian economy.
* The Fidelity Bahamas Growth and Income Fund – a diversified open-ended mutual fund – reported that its net asset value increased by almost 21% for the 12 month period ending mid year 2000, with assets under management growing some 230%. The Fund was launched in March 1999.
* Congratulations to Graham, Thompson & Co. on the opening of its Freeport Chambers.
* The integration of MeesPierson with Fortis Bank provides clients with a wide range of financial services and an extensive network of highly expert advisers. The corporate bank, investment bank, private bank and trust, information bank, and treasury units of MeesPierson have been incorporated into the organisational structure of Fortis Bank.
* Royal & Sun Alliance has partnered with ISP Bahamas On-Line to provide consumers with online insurance quotes – a first for The Bahamas. Quotes will be carried on http://www.bahamas.net.bs.