Bank Sale

From the desk of: Eli

Re: Private Sale of a Bank

Date: January 2023


  • The bank was incorporated in December 2015 and began operations on April 25, 2016.
  • Ownership: Government.
  • Staff: 83.
  • Branch Locations: 2 & large network of ATM machines.
  • Products: Checking accounts, Savings accounts, Online Banking, Commercial Loans, Mortgages, Merchant accounts.


  • The bank’s assets grew by USS 20.7 million, or approximately 7% for the year, to a total assets base of USS 323 million as of October 31, 2021.
  • The bank’s equity grew from USS 17 million to just over USS 18.9 million.
  • The financial report indicates a net profit of USS 2.5 million after taxes.
  • The report also reflects growth in the value of new loans and advances. The value of new loans issued grew from USS 129.5 million to just under USS 142 million over the year. The bank is lending mainly to the residents of the island.