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It’s time for another review. This time it’s the National Bank of Dominica-NBD under review.National Bank of Dominica is the largest bank on the Commonwealth of Dominica and sits third amongst other indigenous banks in the OECS. Recently the Bank released its Annual Report for 2005/2006, according to the Banks Chairman Swinburn Lestrade:

“a good year, spite of the fact that the Group has continued to have major challenges, some of which I will address later. All in all, I very pleased with the performance of the Group over the year under Review.�?

NBD has overcome the many challenges faced by all indigenous Banks in our region, without sacrificing banking prudence, which is essential to good banking. Strategically, its outlook is looking forward, in particularly in broadening of its banking horizon and its extension to the rest of the Caribbean Region.

Despite a one-year loss in 2005/2006 financial year, the Bank still announced that it will pay a dividends of 8 cents per share or 1,760,000. With a first quarter profit of $3.9 million, this is a sure indication of the Banks growth.

In 2004/2005 the bank contracted International Financial Report Standards (IFRS) to preparing its financial information.

NBD profit and loss graph

Notwithstanding its 2004/2005 net results, the bank performed creditably in many areas of its operations. Examples:

  • Considerable reduction in non-performing loan and advances by 71% net of write off.
  • Staff productivity, as measured by its human capital value added at $352,866 compared to $319,805 in 2004/2005.
  • Loan and Advances approved for the financial year amounted to $121,580,979.
  • Core areas of the Banks operations on a consolidated basis continue to be profitable.

I received five copies of the NBD 2007 Calendar. It’s a petty good looking calendar In-fact; it’s the best I have seen from the bank. It displays many different scenes around Dominica. Now that I have these calendars, I need to come up with some creative ways to give them all.

NBD 2007 calendar
I’ve decided to give the first five people who comment on this post will received a calender. Don’t forget to send me your name and mailing so I can mail you a copy of the calendar ….. Good luck …..and remember I only have 5 copies.

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3 Comments »

Comment by Dan
2007-02-15 22:12:54

I hope I’m one of the five! I recognize Hodges Bay in the calendar photo. We’re retiring to Dominica in 2008, but have a house in Calibishie now, and the calendar could grace its walls when we return in June.

We will keep some funds in NBD, and some in the local credit union, but most of our funds will be retained in US banks that are covered by federal deposit insurance.

 
Comment by Mari Jividen
2007-02-27 13:31:35

Dear Chris,
I hope I’m one of the five also! We were on vacation in Dominica 2 years ago, and have been wanting to come back and call it home ever since. I’m not so fortunate as Dan that I can retire yet, but I’m working on it, hoping for early retirement or winning a large lottery. Please contact me by e-mail and I will send you my mailing address for the calendar. I can hardly wait to hang it on my walls to dream…..Mari An

 
Comment by Chris
2007-03-01 18:01:07

Mari,

Thanks for emailing me your address…. I have mailed you a copy of the NBD Calendar.

Chris

 
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