Type Public company Headquarters Belize | Industry Financial services Website Belize Bank | |
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Total assets BZ$825 million in assets (2007) | ||
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Belize Bank (BB) is the first, oldest continuing, and largest bank in Belize. It has over BZ$825 million in assets (2007) and BZ$182 million of capital reserves (2007). Its network of 13 branches covers the entire country. BB has a 44% market share in loans and 38% market share in deposits. It maintains an international banking subsidiary in the Turks and Caicos Islands. Apart from the normal personal and corporate banking service, Belize Bank offers high school scholarships and six form scholarships to students in need. A total of 12 students are benefiting from these scholarship programs each year.
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History
American investors from Mobile, Alabama, incorporated the Bank of British Honduras in 1902, and it commenced operations in 1903. In 1912 Royal Bank of Canada (RBC) bought the bank and proceeded to operate it as a branch.
In 1987, RBC sold the bank to an investment group headed by Lord Ashcroft as Belize Holdings, Inc., then Carlisle Holdings, then Belize Bank Holdings; the new owners renamed the bank, "Belize Bank".
In 2000, Belize Bank established Belize Bank (Turks and Caicos) - "Belize Bank (TCI)." As a result of expanding Caribbean business, in February 2009, Belize Bank Ltd, changed its name to British Caribbean Bank Ltd.