British Virgin Islands

NATURE'S LITTLE SECRETS
Sunday, Nov 17, 2019

Banco Popular taking shape on Virgin Gorda

With the Premier Andrew A. Fahie administration yet to name the official October 2019 opening date for Banco Popular on Virgin Gorda, the building for the much-needed service on the island is finally taking shape.

The bank was originally scheduled to open in August 2019, however, this was delayed to October 2019 following some setbacks with the building. Now, Premier Fahie in a social media post yesterday, Friday, October 11, 2019, manage to share a photo of the building ahead of its opening.

"What a pretty sight in Virgin Gorda. Promise delayed but not denied. Physical banking facility will soon be a reality once again in VG. Persistence always beats resistance," Hon Fahie said in the caption.


No Bank for over a year

Since August 2018, Virgin Gorda has been without a physical bank following the departure of Scotiabank under the National Democratic Party (NDP) administration. CIBC FirstCaribbean had closed months earlier with FirstBank being first banking facility to exit the Sister Island.

In May 2019, during a speech in the HoA, Premier Fahie had made it a promise of his administration that banking would return to Virgin Gorda this year.

The Premier had credited Hon Shereen D. Flax-Charles in addition to Minister for Natural Resources, Labour and Immigration and Ninth District Representative Hon Vincent O. Wheatley and Junior Minister for Trade and Economic Development, Honourable Sharie B. deCastro (AL) for their efforts in helping to restore a much-needed facility on Virgin Gorda.

Banco Popular is a financial services provider with operations in Puerto Rico, the United States, the Caribbean and Latin America.

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