BANK'S POLICY & OPERATIONS
The Bank's policies are determined by its Board of Directors comprising Seven (7) members from the Public and Private sectors. Five (5) of the members are from St Kitts and two (2) are from Nevis. DBSKN is divided into five functional Departments: Projects, Accounts, Loans Administration & Recoveries, Systems and Human Resources & Marketing. There is also a Branch Office in Nevis. The Bank's focus is to develop and promote economic growth throughout the Federation, with specific attention on the Productive Sectors.
SOURCES OF FUNDING
The Bank obtains funding for onlending programmes from the Caribbean Development Bank (CDB), St.Christopher and Nevis Social Security Board, Government of St.Kitts and Nevis and the European Investment Bank (EIB).
All loans must be appropriately secured, this may take the form of Mortgage on property, Bill of Sale, Mortgage on Lease Hold Property and/ or Guarantors etc.
Under current financing the Bank requires clients to provide a percentage of the total cost, depending on the type of project. Equity may include Cash input, any documented expenses undertaken by the sponsor in direct relation to the project.
DBSKN performs the following agency operations on behalf of the Government of St.Kitts & Nevis. The Agency is divided into seven (7) distinct sub- divisions:-
- Development Finance Corporation Portfolio
- Shelter Mortgage Programme
- Student Loan Scheme
- Industrial Estate Programme
- Civil Servants' Mortgage Scheme
DBSKN performs similar type of Agency operations for the St.Christopher & Nevis Social Security Board for:-
- Student Loans
- Low and Middle Income Housing