The Bank of St Helena
is a government-owned bank
based on the British overseas territory
of Saint Helena
, also operating in the dependent territory of Ascension Island
. The Government of St. Helena owns 100% of the bank and operates it as a parastatal
. The Governor appoints the board of Directors. The bank has a balance sheet of around SHP
33 million. Lending accounts for SHP 5.4 million, and SHP 24.5 million is invested in UK Gilts.()
The bank offers both current and savings accounts to personal customers, as well as business banking from two offices in Jamestown, Saint Helena
, and Georgetown, Ascension Island
The bank also offers services to tourists and others visiting Saint Helena
and Ascension Island
. These include currency exchange, encashment of traveller's cheques and providing cash advances on selected credit/debit cards.
The bank maintains a relationship with Lloyds TSB Bank
, allowing its customers to use their banking network for United Kingdom
and international money transmission.
Current details of the bank's services are available on its website.
Money and banking on Saint Helena
The Currency Commissioners, part of the government of Saint Helena
, issue the island's banknotes and coins. Bank of St Helena is the island's only bank
and the island does not have a central bank
. The bank sets its own deposit and lending rates. As at May 2011 the ordinary savings rate is 2% and the normal personal lending rate is 7%.
The bank was formed on 1... Read More