St. Kitts and Nevis (WINN)—Officials from the Bank of Nevis Limited (BON) have moved to clear the air over an issue that has drawn the institution into public discussion.
The issue stems from a recent court ruling involving an institution identified as Bank of New Innovation Limited (BONI), which has come under scrutiny following matters before the High Court of St. Kitts and Nevis.
Since the court proceedings, the Bank of Nevis Limited has been confused with BONI.
In a media statement issued over the weekend, officials from the Bank of Nevis sought to clarify that the two institutions are separate entities.
They wrote in part, “Recent developments arising from proceedings in the High Court of St. Kitts and Nevis involving a financial institution referred to as BONI, Bank of New Innovation Limited, have made it necessary for the Bank of Nevis Limited, BON, to issue the clarification. The Bank of Nevis Limited wishes to make it absolutely clear that Bonnie is not the Bank of Nevis Limited and the two institutions are in no way connected, affiliated or associated with each other. The acronym BON refers specifically and exclusively to the Bank of Nevis Limited, which was established in 1985 and has, for the past 40 years, served as a respected institution within the financial community of St. Kitts and Nevis and the wider Caribbean. The Bank of Nevis Limited is regulated by the Eastern Caribbean Central Bank, ECCB, and operates under the applicable laws and regulatory framework governing its activities.”
The statement further read, “It is therefore important that members of the public, consumers, business partners, stakeholders and members of the international community exercise care when referring to or interpreting information concerning these two distinct institutions. The Bank of Nevis Limited takes seriously the importance of protecting the integrity, reputation and identity of its institution, particularly where reference to another entity could inadvertently create confusion or lead to an incorrect association with the Bank.”
The Bank of Nevis Limited said it remains firmly committed to serving its customers and stakeholders with professionalism, integrity and accountability and to advancing the interests of the people and communities of St. Kitts and Nevis.
