Saint Kitts and Nevis hosts a diverse range of commercial banks, encompassing both local and international institutions. These banks offer a variety of financial services, including personal and business accounts, loans, online banking, and investment solutions.
Major Commercial Banks in Saint Kitts and Nevis
1. St. Kitts-Nevis-Anguilla National Bank (SKNANB)
- The oldest and largest indigenous bank, majority-owned by the federal government.
- Offers personal and commercial banking, mortgages, and investment services.
- Provides online and mobile banking platforms.
- Headquartered in Basseterre.
2. The Bank of Nevis Limited
- A prominent local bank serving both Nevis and Saint Kitts.
- Provides savings, checking, loans, and investment services.
- Offers online banking and mobile app support.
- Headquartered in Charlestown, Nevis.
3. Republic Bank (EC) Limited
- Part of Republic Financial Holdings, headquartered in Trinidad and Tobago.
- Acquired Scotiabank’s operations in the Eastern Caribbean in 2019.
- Offers a full suite of retail and corporate banking services.
- Has branches and ATMs across Saint Kitts and Nevis.
4. CIBC FirstCaribbean International Bank
- A regional bank with a presence in 16 Caribbean countries.
- Provides personal, business, and wealth management services.
- Offers online banking and mobile app services.
5. Development Bank of Saint Kitts and Nevis
- A government-owned institution focused on development financing.
- Provides loans for education, housing, business, and agriculture.
- Has branches in both Basseterre and Charlestown.
6. Hamilton Reserve Bank
- An international bank headquartered in Nevis.
- Offers private banking, corporate accounts, and wealth management services.
- Provides online account opening and management.
- Caters to high-net-worth individuals and international clients.
Cooperative Credit Unions
7. Nevis Co-operative Credit Union (NCCU)
- A member-owned financial institution serving Nevis residents.
- Offers savings, loans, and other financial services.
- Membership is limited to citizens and residents of Saint Kitts and Nevis.
8. St. Kitts Co-operative Credit Union (SKCCU)
- Provides financial services to its members in Saint Kitts.
- Offers savings, loans, and other member-focused services.
- Emphasizes community development and financial education.
International and Offshore Banks
Saint Kitts and Nevis also hosts several international and offshore banks, primarily located in Nevis, which is known for its favorable financial regulations. These institutions cater to international clients and offer services such as wealth management, trust services, and corporate banking. Notable banks include:
- Bank of New Innovation (BONI) Ltd
- International Merchant Bank Limited
- Sovereign Bank International Inc.
- SPC Bank Ltd
- Sun Bank International Ltd
Additional Information
- The Eastern Caribbean Central Bank (ECCB), headquartered in Basseterre, regulates commercial banks in Saint Kitts and Nevis.
- The local currency is the Eastern Caribbean Dollar (XCD), which is pegged to the U.S. Dollar at a fixed rate of 1 XCD = 0.37 USD.
- Most banks offer online and mobile banking services, facilitating convenient account management for both residents and international clients.
