The Tribune

A Bahamas-based financial institution has donated $100,000 to The Bahamas Red Cross to assist with Hurricane Dorian relief efforts.

Cornèr Bank (Overseas), which earlier this year became the first to launch a round-the-clock trading platform for Bahamian residents to invest in foreign stock markets, has answered the call of the Bahamas Financial Services Board (BFSB) and Association of International Banks and Trusts (AIBT) to donate in collaboration with the Financial Services Cares initiative.

“For many residents of Abaco and Grand Bahama in the northern Bahamas, life from now on will be defined as before Hurricane Dorian and after Hurricane Dorian,” said chief executive Christine Russell.

“Wish as we might, there is nothing we can do to change what happened before Dorian, but as corporate citizens, we can bring our compassion and our financial resources to shaping what comes after. And that is exactly what we are here to demonstrate today as we present a cheque to the Bahamas Red Cross on behalf of our head office in Lugano, Switzerland.

“Our chairman and directors have been to The Bahamas on many occasions, and Cornèr has been a part of the Bahamian financial landscape for 23 years. So while the headquarters of Cornèr Bank are in Switzerland, all of Cornèr Bank’s hearts are right here in the community in which we live and operate. We hope others in private banking and financial services will feel the same and support all relief and rebuilding efforts at this critical time.”

Terez Curry, the Bahamas Red Cross president, thanked the bank even as she explained the work the organisation was doing on the ground, including searching abandoned houses in Abaco and covering Grand Bahama with relief efforts.

“I would like to express our heartfelt thanks to Corner Bank for this generous donation, and to BFSB and AIBT for all your efforts to assist us in our efforts,” said Ms Curry.” We are in full hurricane relief mode - from providing relief to those on the islands to assisting those here in Nassau, both in shelters and staying in private homes.”

Hurricane Dorian is the third time that the financial services industry has called on members to collaborate through donations to its Financial Services Cares Initiative.

“As was done in the wake of Hurricane Joaquin (2015) and Hurricane Matthew (2016), the Association of International Banks and Trust Companies and the Bahamas Financial Services Board are collaborating to facilitate donations to the Hurricane Dorian relief effort through our ‘Financial Services Cares’ Initiative,” the duo said in a joint statement.

“This initiative was established to provide a means by which member firms can contribute to restoration and recovery efforts when crises impact our communities. We have set a goal of $1m in the wake of Hurricane Dorian, and we are encouraging member firms to please give generously.

“Cornèr Bank (Overseas) has responded to this call, and we are extremely grateful. BFSB and The Association of International Banks and Trust Companies (AIBT) will contribute all funds raised to the support the provision of shelter as a priority in the national relief effort and, once immediate needs are met, we will move to support projects with a focus on youth and education.”

On hand for the cheque presentation at Bahamas Red Cross headquarters was Bahamas Financial Services Board chief executive, Tanya McCartney, who also represented the Association of International Banks and Trust Companies.