Banco Popular inaugurates new facilities

Friday 9 December was a memorable day for the banking industry in the BVI as it marked the grand opening of the long awaited Banco Popular building.

At a ceremony held at the bank’s new venue, His Excellency the Governor, Mr. Thomas Macan, members of the Legislative Council and members of the business community attended the event and congratulated the bank on its achievement.

Mr. Ian Smith, Assistant Vice President, and Commercial Relationship Officer of Banco Popular Tortola branch, welcomed the well wishers and commented on the historical significance of the opening. He also stressed the bank’s continuous commitment to the provision of world class service to residents of the Territory.

Mr. Valentino  Ian McBean, Senior Vice President and Regional Manager of Banco Popular’s Virgin Islands Region explained that the opening was a special occasion and that over the years his financial institution has developed a close relationship with clients in BVI. Mr. McBean said that the loyalty and dedication of their customers has been a major factor in their expansion in the Territory.

President of Banco Popular, Mr. David Chafey Jr. told the gathering that the completion of the building was a dream come true for the Bank. He reminisced about the days when Banco Popular began its operation in the Territory back in 1993. After his recollection of fond memories Mr. Chafey announced that the new building was Banco Popular’s pledge to the community. He further explained that the use of local materials for the building’s construction is a symbol of the Bank’s appreciation of the Territory’s culture and heritage.

Acting Chief Minister, Hon. Ronnie Skelton offered congratulations on behalf of Chief Minister, Dr. D. Orlando Smith, who was away on official business at the time. Hon. Skelton recalled witnessing the ground breaking ceremony of the building 29 months ago.  The Acting Chief Minister complimented Banco Popular on its achievement, adding that the building was more than bricks and mortar, and even more than the investment that was made in it, instead Hon. Skelton explained that the building was a symbol of empowerment that is driving the Territory.

“We are looking at the picture of development done the right way. Development done the right way means providing opportunities for local people -- plumbers and contractors were able to work on the construction of this building which provided jobs. Banco Popular employed a BVI Manager from the first day it started business in this Territory. Development done the right way means, aiding in the beautification of Road Town, with this new building that also helps to preserve our culture by using the indigenous stone work design. This building means that Banco Popular is doing its part in the development of the BVI.  It will provide BVI residents with services such drive through banking.”

His Excellency, the Governor pointed out that the well designed building was created by BVI contractors and Architects.  Governor Macan went on to say that Banco Popular has set a high standard which others need to emulate.

Chairman and CEO of Popular Inc, Mr. Richard L. Carrion mentioned that over the past 12 years Banco Popular has developed a deep commitment to the BVI. The bank found the Territory to be the best financial jurisdiction of all of the markets they operate in. Mr. Carrion asked the gathering to let the new building be a sign of Popular’s commitment to the BVI.

The new four-storey Banco Popular building which is located on Wickham’s Cay required a total of 3.5 million dollars to construct. The building encompasses 20,000 square feet of space with customer parking for up to 13 vehicles. The new building includes a greeting area for the branch’s host, an ATM machine, a two lane drive thru, and an additional lane for ATM services and after-hours deposits. 120 jobs were created during the new building’s construction process. Architects Roger Downing and Partner supervised the Building design, while Pieri and Associates of Puerto Rico served as project managers. James Todman of Tortola was the general contractor.

The new Banco Popular’s lobby is located on the building’s first floor, while the Commercial Credit, Personal Loans and Mortgage Departments are on the second floor; the third and fourth floors are available for rent.  Additional loan officers and tellers are expected to provide customers with faster transactions. 

The building’s design is based on the perception of a landscapist, using rocks and local plants to replicate Tortola’s characteristic environment. In addition the building features a sophisticated climate control system, including a 35,000-gallon cistern, 350Kw emergency generator that supplies the entire building with power, hurricane and impact resistant windows, and eaves that will protect the building’s façade from the sun’s rays. The drive thru banking hours daily from 7:45 a.m. to 6:00 p.m. daily and on Saturday s from 9:00 a.m. to 12:00 p.m.