1 minute read
Directors’ Report
from 2022 Annual Report
by BOSVG
The Directors of the Bank of St. Vincent and the Grenadines Ltd. (BOSVG) are pleased to present the Report of the Directors for the period January 1 to December 31, 2022.
Group Structure
BOSVG is licensed by the Eastern Caribbean Central Bank (ECCB) to conduct Banking Business pursuant to Section 14 of the Banking Act 2015. BOSVG, formally the National Commercial Bank (SVG) Ltd. was incorporated on June 1, 1977. The Bank amalgamated with the St. Vincent and the Grenadines Development Bank Inc. on June 19, 2009 and changed its name from National Commercial Bank (SVG) Ltd. to Bank of St. Vincent and the Grenadines Ltd. on November 26, 2010.
Property Holdings SVG Ltd. is wholly owned by BOSVG and was set up primarily to facilitate the temporary acquisition of distressed properties for future investments. The Bank was incorporated on December 13, 2010.
The diagram on the right is an illustration of BOSVG’s group structure.
DIRECTORSHIP & TENURE
BANK OF ST.VINCENT AND THE GRENADINES LTD.
PARENT COMPANY
PROPERTY HOLDINGS SVG LTD.
100% OWNED BY BOSVG
As at December 31, 2022, the members comprising the Board of Directors of the BOSVG were:
• Mrs. Judith Veira – Chairman - Government appointee
• Mr. Maurice Edwards – Government appointee
• Mrs. Saibrina Brewster- Dickson – Government appointee
• Mr. Terral Mapp – Government appointee
• Mr. Rolf Phillips – ECFH appointee
• Mr. Medford Francis – ECFH appointee
• Mr. Lennox Bowman – NIS appointee
• Mr. Lennox Timm – NIS appointee
• Dr. Timothy Providence – Elected by the Public
The members of the Board were elected /appointed at the Annual General Meeting (AGM) held June 01, 2022. The Directors will serve for a three-year term unless their tenure is sooner determined. Mr. Terral Mapp and Mr. Rolf Phillips were newly appointed replacing Sir Errol Allen and Mr. Omar Davis who retired at the end of the AGM.
On June 02, 2022 the Directors elected Mrs. Judith Veira to the post of Chairman replacing Mr. Maurice Edwards who served in that position since July 24, 2017.
As at December 31, 2022, the Directors of the Board of Property Holdings SVG Ltd. were:
• Mr. Lennox Timm - Chairman
• Mrs. Saibrina Brewster-Dickson
• Mr. Bennie Stapleton.
Mr. Lennox Timm replaced Sir Errol Allen as Director and Chairman of Property Holdings SVG Ltd. on June 02, 2022.
