Caribbean Association of Indigenous Banks Inc. - Bank Members- British Virgin Islands

TORTOLA

National Bank of the Virgin Islands Limited

Ag. Managing Director: Mrs. Doris P. Smith-Scatliffe

P O Box 275, Wickham’s Cay

Road Town, Tortola, BRITISH VIRGIN ISLANDS

Tel: (284) 494 3737/8, Fax: (284) 494 3119

National Bank of the Virgin Islands Limited formerly Development Bank of the Virgin Islands Ltd was incorporated on February 1, 2005 under the Companies Act, Cap 285 and was subsequently registered in the BVI Business Companies Act with an authorized share capital of US$15 million. However, the bank opened its doors in 1980 as a Statutory Corporation under the British Virgin Islands Development Bank Act 1974. Effective April 1, 2005, the Development Bank of the Virgin Islands (Transfer of Assets & Liabilities) Act, 2004, and the Development Bank of the Virgin Islands (Transfer of Assets & Liabilities) Vesting Order 2005 came into force to facilitate the new direction of the bank. The bank now operates under a general banking license in accordance with the Banks and Trust Companies Act, 1990. Wholly owned by the Government of the British Virgin Islands, DBVIL is transitioning from a purely developmental type institution into a commercial banking entity. In addition to taking deposits, the Bank offers mortgages (commercial and residential), personal and consumer loans. Currently the bank operates from (1) branch, is staffed by (30) employees and had an asset base of US$75.9 million as at December 2006.