Banco Popular inaugurates new
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.
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.
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.
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.
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.”
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.
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.
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.
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.
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