Consolidated Finance is being aligned with the branding of its parent company, the ANSA McAL Group, and will now be known as ANSA Merchant Bank (Barbados) Limited (AMBBL).
In a recent statement, the finance company said the move opened many new and desirable financial options to the business and private sectors. This transition, the company said, unites the legacies of two strong, well-respected, regional financial institutions which have been operating in the Caribbean for over four decades.
Consolidated Finance, a household name in Barbados, has been offering from hire purchase loans to deposits and leases.
ANSA Merchant Bank, headquartered in Trinidad and Tobago, is a major player in the regional capital markets and a provider of large project development financing, corporate lending, leasing, investment solutions and private wealth management.
ANSA Merchant Bank also partners with clients regionally and especially in Barbados and Trinidad and Tobago in raising business capital and arranging funding for sovereigns, joint ventures, and public-private partnerships.
Chairman of Consolidated Finance, Gregory N. Hill said, “Consol has a strong reputation in Barbados and has been a subsidiary of the Trinidad-based parent [company] for many years. With this rebranding and refocus, ANSA Merchant Bank (Barbados) can now leverage the combined financial strength and experience of the Merchant Bank to play a more significant role in the domestic banking market, while deepening relationships with customers who will now be able to tap into a wider range of financing products and services.
“We are responding to the call from the public for a new approach to financial services and this move will facilitate the growth and expansion of local companies, thus contributing considerable value to the business sector and Barbados in general.”
Victor Boyce, the managing director of (AMBBL) said the introduction of the brand to Barbados was timely for the company and the country. He was enthusiastic about expanding the ANSA portfolio of financial services for clients in Barbados.
In a video release that accompanied the announcement, Boyce said, “We are taking this opportunity to evolve the brand and expand our offerings for all our clients in Barbados.”
The ANSA Merchant Bank brand is establishing its footprint in Barbados on the back of a strong performance in 2021 and a legacy of several notable transactions in the last decade.
“Virtually all our business lines are poised for further growth, and we are looking forward to bringing many advantages to the corporate and private sectors, the capital markets and the financial services industry in Barbados as a whole.”
Also addressing clients in the video was Frances Parravicino, a long serving executive of the company and its head of Asset Finance and Business Banking. She assured clients that “while so much is changing the heart of our bank will always be Barbadian”.
The Bank confirmed that existing client relationships would be unaffected by the transition. (IMC1/PR)