Commonwealth Bank announced today that the Board of Directors has approved the opening of a branch in Spanish Wells.

“I am very pleased to say that, as we have been sending our project management team to the island, Commonwealth Bank has been widely and warmly welcomed by the Spanish Wells community,” said Bank President Ian Jennings. “This move to Spanish Wells increases our presence to four islands and we look forward to serving the Spanish Wells community as we do so. We will announce more details as our planning and contractual arrangements crystallise.” Mr. Jennings said.

The Spanish Wells branch will be Commonwealth Bank’s first new location since it opened its Prince Charles Drive branch in September 2009. Several of its other 13 branches have been renovated in recent years. Its Cable Beach branch was re-constructed as part of the Baha Mar re-routing that resulted in the relocation of businesses and offices to the newly built Baha Mar Way as former West Bay Street locations were absorbed into the massive multi-billion resort project.

The bank has branches in New Providence, Grand Bahama and Abaco, and has some 6,000 shareholders and over 500 staff members. Commonwealth Bank has the largest market capitalization on the Bahamas International Securities Exchange, (BISX), and has consistently paid out quarterly dividends to its shareholders since going public in the year 2000.

Commonwealth Bank President Ian Jennings

 

Dianne Phillip & Associates