St. Vincent and the Grenadines - Banking and securities
In the late 1980s, the nation's largest financial institution was the state-run National Commercial Bank, and various branches of Canadian banks were prominent in Kingstown. Commercial banks include Bank of Nova Scotia, Barclays, CIBC, Development Corp., First St. Vincent Bank, New Bank, Owens Bank, St. Vincent Cooperative Bank, and Republic Bank. The government has established arrangements for offshore banking corporations, with direct connections to Swiss banking facilities. The International Monetary Fund reports that in 2001, currency and demand deposits—an aggregate commonly known as M1—were equal to $95.9 million. In that same year, M2—an aggregate equal to M1 plus savings deposits, small time deposits, and money market mutual funds—was $278.0 million.
There is no securities exchange, except for the common CARICOM exchange.