Commonwealth Bank $3.3 million branch in the east soon open

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princecharlesdriivebranch_1_-1<<< Commonwealth Branch in the east now under construction.

By Alexavia Dorsett

Nassau, The Bahamas – Commonwealth Bank Chairman T.B. Donaldson, CBE, stated that the opening of the bank’s 11th branch, a new 9,000 square foot, $3.3 million facility under construction on Prince Charles Drive, will provide full service personal banking to the eastern and south-eastern areas of New Providence.

“The Prince Charles Drive branch re-affirms the bank’s commitment to take banking to the community,” said Mr. Donaldson, providing an update on the project. “Construction is on schedule and the new branch located about a quarter mile east of the southern entrance to St. Augustine’s College is slated to open in the Fall.

“Commonwealth Bank considers itself fortunate to be part of building vibrant communities where people can live, work and raise their families,” he said. “For almost 50 years, we have provided a bridge for Bahamians to establish a foothold within their country, offering much-needed banking services to foster economic growth and help our customers become a part of the financial mainstream. In the current economy, this new branch will be a mini-stimulus package, providing some 30 new jobs and essential services in what has been a fast-growing, under-served market. We acknowledge it as part of our ongoing commitment to take banking to neighbourhoods where people live and work.”

The state-of-the-art branch, designed in what has become Commonwealth Bank’s signature style with white Bermuda roof and classic gray and white finish, is expected to serve the neighbouring Prince Charles, Fox Hill, Yamacraw and Elizabeth Estates residential areas in addition to surrounding businesses. It will feature a large lobby and complete personal banking services, including a 24-hour ABM.

Commonwealth Bank recently reported its results for 2008, recording in excess of $49 million net income. The bank is the nation’s largest publicly-held firm with approximately 6,500 shareholders, some 550 staff and more than $1.3 billion in assets with   an unparalleled track record in just the last five years of over $190 million in earnings and over $100 million of dividends paid to its common shareholders in the last 5 years.

7 COMMENTS

  1. Being open on the weekend only makes sense if the customer service improves. Otherwise, that will just mean another day to stand on line for bad service.

  2. Being known as the bank that has Saturday and evening banking will increase the numbers of clients and that increases profits. It has worked elsewhere. It might just follow that some government services might be made available on Saturdays also eg. passport office.

  3. Back in the day, about 25 years ago, all Banks were open on Saturday until noon. Monday to Friday, the hours were 9-1 on Sat. 8.30-12.
    This is when the term “Bankers Hours” was relevant.

    Later on things changed. Sat. mornings were eliminated, BUT on Fridays, after closing at 1pm. we re-opened from 3-5.

    Much later on things changed once again to present day hours.

    The problem as I see it here is NOT the number of hours that Banks are open, rather it is the LAZY staff who withhold that all important commodity “Customer Service”. Bless my Soul, some of them are as slow as honey in winter.

    It is interesting to observe new recruits right out of high school who are working the Counters in local Banks. For the first few months, they are efficient and courteous. Well, as you can imagine, this ‘shows up’ the lazy ones. So it does not take long for pressure to be brought upon the new recruit, and just when you think things are finally getting better, the new recruit falls in line will all the others.

    You know the routine, no ‘good morning’, no eye contact, no smile, lack of interest, slow, act dumb, fingernails too long to pick up a pencil or piece of paper, chew gum (and click it), and to add insult they use your credit card (or whatever else they can get their hands on) to scratch or pat they too tight hair do. Thanks God for Drive Through! At lease I cant see who is p!ss!ng me off. Enough rant!!!

  4. While I agree with the sentiments of banks extending working hours to Saturdays we must remember that they are there to make a profit and would have to pay staff who would be required.All banks with substance operate ATMs in order to inccrease their profits as we as consumers pay service charges for the convenience of using the ATMs.Online banking by computers has replaced online banking like standing on a long line.

  5. @Joe Blow
    Joe I could never figure this one out. Not a single bank in the Bahamas has had the vision to be open on a Saturday or at least later on certain week days. Its like they get a thrill out of seeing long lines and frustrated customers in their banks.

    Now that Commonwealth Bank has the vision on moving into the areas where people live, perhaps they will also get the epiphany to actual be open on a day when these people are at home and can use their facilities.

  6. Its nice to see Commonwealth Bank expanding but what about expanding to the Family of islands Nassau is populated with banking institutions the Family islands could sure use a Commonwealth Bank or a KFC. Send help soon and jump start the economy in the Family island then I will be impressed.

  7. Congratulations to Commonwealth Bank. Great to see a Bahamian bank doing so well. One little suggestion. It would be nice if banking hours could be extended 2 times a week till 8 o’clock to better help those who can’t get to the bank during working hours. !/2 day Saturdat would also be helpful.

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