Mar 2010 Financial News

BNB: We like it so

Mar 22, 2010

REPUBLIC BANK IS SO HAPPY with the way Barbados National Bank (BNB) has performed since it bought the institution in July 2003 that a name change is not on the cards.

Word of this has come from Ronald Harford, Republic's chairman, who told BARBADOS BUSINESS AUTHORITY the local acquisition's performance was meteoric and the BNB brand had worked successfully for the Trinidad and Tobago-headquartered parent company.

Harford was in Barbados last week to witness the opening of BNB's new flagship operation on Broad Street in The City following a $15 million renovation.

He said BNB, which last year recorded profits of $49.41 million, had performed "wonderfully" while many of the other acquisitions in the region had experienced a bumpy road largely because of the economic conditions.

Republic Bank, which is based in Trinidad and Tobago, has taken over a number of poorly performing national banks in several Caribbean countries. All of them have been rebranded under the Republic name.

"If we were to change the name, it would have to be very carefully considered because we spent a lot of money branding this operation," Harford said. (GE)


Source:
Nation News
Monday March 22, 2010

http://www.nationnews.com/news/business/BNB-brand-wuking-copy-for-web