Commitment to Excellent Service

Dear Customers,

Since our license was granted in September 2014, our bank has set up a physical office in Port Vila, Vanuatu and started to recruit banking staff for its business operations. Another important stride we have recently made is all the required Compliance Framework Papers and Supervisory Policy Manuals were put in place.

Objectives

Looking to become a leading private bank in Asia, we are focused on providing privacy, wealth protection and asset protection services for our clients.

The bank's principle activities remain deposit and debit card in the next two years. The Banking Department Establishment (BDE) has been formulating the following policies to meet with the bank's 5-year objectives:

  • Equity enhancement
  • Building trust with market and customers
  • Cultivating customer/ stakeholder engagement

In line with the objectives, the bank commits to its stakeholders as follows:

  • To ensure greater returns by utilizing useful data to achieve the best possible and fairest results;
  • To build trust with all stakeholders through transparency by providing clear and timely communications to all stakeholders on changes to processes which may affect the bank's revenue;
  • To provide transparent access to our business information and analysis through the regular publishing of reports;
  • To ask and listen to our stakeholders through regular meetings and surveys;
  • To place greater emphasis on the needs of our customers in term of innovativeness;
  • To support creative thinking within the organization and reward staff that make exceptional revenue contributions to the bank; and
  • In the longer term, to provide customers with online-offline experience.


Likely developments

The bank expects to maintain the present status and level of operations in the first three year i.e. 2015. In 2016 and 2017, relevant policies will be introduced to enhance the bank's customer base and time deposit portfolio. The higher our level of deposit, the more margin we can yield from the money market placement with counter-party. And, at the same time because of the MM/ FX relationships, correspondent banks will consider our business proposal such as Card Business which will benefit our customer vastly in planning their spending budgets.

From the fourth year, the bank should be able to provide regularly some investment opportunity to its customers. The bank believes the infrastructure and relationship policy for launching investment management advisory should materialize by then, in which case this non-capital based business will come to fruition from 2018 onwards.


On behalf of Banking Department Establishment,
Joseph Lee, CEO, Port Villa, Vanuatu

23 April 2015