May 22, 2003 – The V.I. Banking Board has approved the opening of a new FirstBank branch in the Grand Galleria complex in downtown St. Thomas and the relocation of the Bank of Nova Scotia branch in Cruz Bay, St. John.
The action was taken at a board meeting Wednesday on St. Thomas, according to a release from the Lieutenant Governor's Office. Lt. Gov. Vargrave Richards by virtue of his office chairs the board.
Richards said in the release that he has directed the board to engage the territory's banks in finding way to provide home loans on St. Croix.
The other board members are Winston Bennett, Ernesto Gutierrez, Desmond Maynard, Pablo O'Neill and the Finance commissioner, Bernice Turnbull.
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