(Left to right) St. Kitts and Nevis Prime Minister and Minister of Finance, Dr. the Hon. Denzil L. Douglas; Banco Populars Senior Vice President and Regional Manager, Mr. Valentino McBean; United States Virgin Islands Senator Nevisian-born, the Hon. Roosevelt David Banco and General Counsel in the British Virgin Islands, Kittitian-born Mr. J.S. Archibald Q.C. (Photo by Erasmus Williams)

Banco Popular, Puerto Ricos leading financial institution has expressed an interest in establishing a branch in St. Kitts.

Banco Populars Senior Vice President and Regional Manager, Mr. Valentino McBean; Banco General Counsel in the British Virgin Islands, Kittitian-born Mr. J.S. Archibald Q.C and United States Virgin Islands Senator Nevisian-born, the Hon. Roosevelt David met and held discussions with St. Kitts and Nevis Prime Minister and Minister of Finance, Dr. the Hon. Denzil L. Douglas, Financial Secretary, Mr. Wendell Lawrence and Permanent Secretary in the Office of the Prime Minister, Mr. Oaklyn Peets.

Prime Minister Douglas in welcoming the officials pointed out that St. Kitts and Nevis has made numerous and significant strides and the transformation of the economy is continuing.

He said St. Kitts and Nevis continues to take-off and the vision of his Government has been embraced by the people.

Dr. Douglas said his third-term St. Kitts-Nevis Labour Party Administration continues to pursue its social developmental goals aimed at improving the quality of life of all the people.

Mr. McBean said the 112-year-old Banco Popular has a portfolio of over US$1 billion in the United States Virgin Islands. In Puerto Rico the Bank has 490 ATM machines and 296 branches. The bank also has a Branch in the Tortola, having taken over the First Pennsylvania Bank.

He said Banco Popular would like to expand to St. Kitts and Nevis and is committed to ensure that young Kittitians and Nevisians have pride of place in the formidable positions and positions of leadership.

Mr. McBean said that Banco Popular has a cadre of local young people working in each of the branch with customer friendly drive through banking facilities and would provide the opportunity for local people to grow.

According to Mr. McBean, Banco Popular would provide financing in several areas including home mortgages, housing and development financing, technology and agriculture and human resource development.

Financial Secretary Mr. Wendell Lawrence outlined the procedures to be taken in securing a banking licence to operate in the Federation of St. Kitts and Nevis.

Popular, Inc., is a complete financial services provider with operations in Puerto Rico, the United States, the Caribbean and Latin America. With $40 billion in assets, Popular, Inc. ranks among the 30 largest bank holding companies in the U.S.

Banco Popular North America, the main banking subsidiary of Popular, Inc. in the U.S. mainland and the country's largest Hispanic-owned financial institution, operates over 100 full service branches in six states including California, Texas, Illinois, New York, New Jersey and Florida.