It was reported last week that Bank of the Bahamas has opened a branch in Miami, Florida, in order to cater to Bahamians travelling to North America.
The bank announced on Thursday, that the move was undertaken as a result of increasing commerce between the Bahamas and the United States, and explained that customers of Bank of the Bahamas will be able to exchange Bahamian dollars for US currency, and to perform various other transactions permitted by the Central Bank.
Speaking at the opening of the new branch on Thursday, which coincided with the launch of a new trade name ('Bank of the Bahamas International') and logo, Managing Director, Paul J.L. McWeeney revealed that the bank has been developing well and growing robustly, with offshore activities now representing around 15% of its core business.
According to a report from the Nassau Guardian: 'The event was attended by more than 125 business, civic and government leaders including Prime Minister Perry Christie, Minister of State for Finance, James Smith and the Governor of the Central Bank, Julian Francis.'
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