Verwaltungs und Privat

Behind the scenes of VP Bank, celebrating 20 years in the Territory

Photography courtesy of VP Bank

No, the article title is not a type error – simply German for Wealth Management and Private Banking, or more commonly known to the BVI community and the world as VP Bank.

With a subsidiary office in the Territory, VP Bank specialises in private banking for individual clients and intermediaries as well as mortgage and commercial financing. Retaining position as the preferred bank for these type of transactions, they have relished great success and have become known for their involvement in charitable activities in the community.

With the bank’s involvement in various initiatives for the improvement of the islands, Virgin Islands Property and Yacht invited VP Bank’s General Manager Sjoerd Koster to impart details about the organisation.

“VP Bank seeks to differentiate itself from the other banks by taking the time to truly understand our clients’ needs and act on these,” he mentioned in reference to the principles the company adheres to in outstanding, tailor-made services.

“VP Bank Group was founded nearly 60 years ago in 1956 in the Principality of Liechtenstein in Europe and its shares are listed on SIX Swiss Exchange,” said the general manager. “The Group extends over three continents with offices in Hong Kong, Singapore, Liechtenstein, Switzerland, Russia, Luxembourg and the British Virgin Islands,” he continued.

Recently, the company celebrated its 20-year anniversary in the BVI in February 2015, prompting one of two fruitful events that month; the other occasion celebrated was in recognition of the company’s recent relocation.

“Our location on Main Street brings us back to the centre of town,” said the VP Bank manager, explaining that their first office was also established 20 years ago on Main Street next to the Dove Restaurant. “The central and historic location and the newly designed client areas seek to offer a unique experience in line with our service,” he continued, elaborating on Main Street’s history with the Britannic Hall built in 1910 as well as Her Majesty’s Prison constructed in 1774.

February saw an ‘Open House’ celebrating the relocation of the office followed by another occasion, heralding their Jubilee of 20 years in the BVI. This was held at Long Bay Resort and the momentous gala dinner ended with fireworks at the beach.

The bank’s philanthropic behaviour is demonstrated by its commitment to the BVI through various community sponsorships and donations.

The most recent noteworthy activities were the Necker Kids’ Cup event conceived with the BVI Lawn Tennis Association, the Tortola Sports Club, and Premier Tennis. “The event which was headlined by the world’s famous tennis coaches and entertainers—Wayne Bryan and Murphy Jensen—was open to all children in the BVI interested in receiving a one day tennis clinic. The exciting part this year was to see how much the children had improved from last year and how the sport of tennis is growing in the BVI,” said Sjoerd.

The bank continues to be involved in the Tortola sloop project which started two years ago when the company was able to facilitate the return of one of the oldest Tortola built sloops and donate it to the Virgin Islands Maritime Museum. ”We are looking forward to the annual VP Bank Tortola Sloop race organised by the BVI Spring Regatta this month which is a highlight of the event.”

Another example of one of their recent sponsorships is the ‘More than Ball’ programme which covers all aspects of academics, basketball, and life skills for children from the age of 8-18. The initiative was established by Keith ‘88’ Malone and is run by Coach Mike Niles. For the youth participating, the course aims to instil the necessary discipline, training, and skills required by—for example—junior colleges and alternative educational establishments in the USA. “Some of the best testimonies of the programme’s success have come from the parents and community”, said Sjoerd.

With continued activity in a variety of charitable pursuits as well as their stellar service, the company invites existing customers and new clients to visit their premises at the centre of Road Town on Main Street for further information about their bank and services: “We look forward to the next 20 years of banking in the BVI whereby we can offer our expertise to both domestic and international clients looking for mortgage and financing as well as wealth management for both our private clients and intermediaries. We are also exploring regional opportunities in the Caribbean for a possible expansion of our services.”