Bank of The Bahamas Limited (“BOB”) announced today that its Thompson Boulevard branch will close effective 31st August, 2015. The branch is located in the Ministry of Education’s building on Thompson Boulevard in Oakes Field.

The portfolio of the branch will be transferred to the Harrold Road branch on the Tonique Williams-Darling Highway.  Harrold Road branch will become the new home branch of customers with accounts currently domiciled at Thompson Boulevard branch, except in those cases where customers have indicated a preference for another BOB branch to serve as their home branch. 

According to BOB’s management, the process is anticipated to be seamless. Management noted that preparations are well underway to receive BOB’s Thompson Boulevard family by extending the teller counter at Harrold Road branch and redeploying all employees of Thompson Boulevard branch mainly to Harold Road branch.  Some staff members will be deployed to other New Providence branches to enhance service delivery. 

Management said the closure of Thompson Boulevard branch and redeployment of staff is a part of the bank’s overall strategy to rationalize its branch network.   With three branches located in less than a 5 mile radius, management does not expect the closure of Thompson Boulevard branch to have any significant impact on business for customers banking in western New Providence.

This strategic restructure includes plans to consider expansion of the branch network to other economically viable locations throughout The Bahamas including the Family Islands. 

The bank has completed preliminary groundwork in South Eleuthera, encouraged by prospects for a revitalized economy, starting with the multimillion dollar development of a Four Seasons Branded Hotel and Residential Community.  With an imminent launch of a branch in South Eleuthera, BOB plans to provide modern, innovative full-service banking to this development, its employees and the residents of South Eleuthera in the near future, said management.

In the meantime the bank said it is taking all necessary steps to ensure that Thompson Boulevard’s and all BOB’s customers continue to receive the highest level of service.

The BOB Express ATM will remain in place at the Thompson Boulevard location so that customers can continue to enjoy fast and convenient transactions in that location. The bank is also enhancing its online banking service so that customers can save time by completing more real-time transactions online.

Management said it expects that these additional options will assist with a seamless process with no anticipated impact on customers’ ability to access their accounts or any service offered by BOB.

Bank of The Bahamas Limited is a modern, full-service bank with 13 branches in seven islands and a long history of firsts in the local Banking Industry. The bank offers Retail Banking Services; Corporate and Commercial Banking; Premier Banking; and Trust Services.