New Republic Bank Warrens Branch a demonstration of Bank’s Commitment to society

Barbados, September 6th, 2018 – Republic Bank’s newest Branch at One Barbados Place, Warrens, is a fulfilment of the Bank’s commitment to Barbadian customers and a progression of its vision to help build Barbados as a successful society.

Delivering the opening remarks at the official opening, Managing Director and Chief Executive Officer, Anthony Clerk said the new branch signalled Republic Bank’s commitment to serving the people of Barbados. He noted this was already evidenced not only by the strategic location of facilities, but also by the quality and relevance of its services.

Clerk stated: “Republic bank maintains the highest number of branches of any commercial bank in Barbados, and the highest number of staff with more than 500 employees. Republic Bank also has the widest ATM network, maintaining a presence in the most convenient locations all across Barbados from St. Lucy in the north to St. Joseph in the east, with the most highly used ATM in all Barbados at the Glebe in St. George.”

The CEO’s remarks were delivered to an audience including Prime Minister and Minister of Finance, Economic Affairs, The Hon. Mia Amor Mottley, who was accorded the honour of declaring the new Branch officially open. Interestingly, it was the second time in the Prime Minister’s career officially opening the Warrens Branch of Republic Bank as she also did the honours in 2005 at the official opening of the very first Republic Bank Warrens Branch.

The journey from that first branch to the present state-of-the-art ground floor facility at One Barbados Place, said Clerk, clearly demonstrated Republic Bank’s commitment to investment in Barbados. He said the benefit to Barbados fit well into the Bank’s vision of building successful societies as an indigenous financial institution operating for more than 180 years in the Caribbean and now also in Ghana, Africa.

“Even during periods of economic uncertainty and sluggishness, the Bank has committed to investment in Barbados demonstrated by reinvestment in our plant with significant upgrades to our Six Roads, Wildey, Worthing and Belleville locations,” Clerk said. He also highlighted the Bank’s investment in training facilitated primarily in Barbados, and the approximately $500,000 annually put into social initiatives through the Power to Make a Difference corporate social responsibility programme.

Republic Bank, Clerk noted, always believed in the potential for growth in the Warrens area dating back to Barbados National Bank days in the early nineties when the area was earmarked for development under the Barbados Physical Development Plan.

“This Warrens branch began with nothing… a shot in the dark based on the foreseen development of the location; and a stated commitment to contribute to the development of Barbados and its people. Out of nothing, no customers, no deposits, no loans, no mortgages, I am pleased to tell you that in fourteen years, the Warrens branch has grown to become the third largest in the network with a loan portfolio of $82 million, of which $47 million comprises the mortgage portfolio alone.”

Developed by Caribbean Consultants Limited, One Barbados Place is the third change of address for Republic Bank’s Warrens Branch, which was previously located in the CGI Tower, and for the past 22 months, at Republic Plaza at the Warrens Office Complex.

The ground floor branch features two ATMs that will be accessible after hours with one machine to facilitate the differently abled at a lower level. A drive-through ATM is also located in the forecourt.

Erected on land originally owned by Republic Bank, One Barbados Place was completed at an investment of approximately BBD$30 million. The impressive structure features three upper floors dedicated to private commercial rental.