Over the past year, the continued dedication to our well entrenched business model has allowed the Bank to weather the extended and challenging economic environment while sustaining strong levels of profitability.William B. Sands, Jr., DM | Executive Chairman, Commonwealth Bank
Building On Our Strengths
Commonwealth Bank is not just a financial institution where customers put money in and take money out. Simply said, our shareholders, stakeholders and customers do not feel they are just a number amongst others, but that they are Bahamians looking to build a financial future for themselves as well as contributing to the ongoing development and future of The Bahamas itself.
A Culture to Support the Future We Envision
The strength and ongoing commitment of our more than 590 staff have been an essential part of Commonwealth Bank’s success. It has been their commitment and their dedication that contributed to the ability of the Bank to achieve and deliver on our strategic goals.
As our ongoing transformation efforts create an immense amount of change, we are committed to ensure that our culture evolves to support the strengths that will be required in order to address the business model planned by the Bank in the future.
We are taking purposeful steps to ensure our culture is fully aligned with our business model and growth strategy by helping us attract and retain the right talent to support their own expectations as well as add value to shareholders and other stakeholders. Critical to the success of any changes in the overall culture of the Bank will be the ability to link management job accountabilities with operational performance.
Commonwealth Bank is particularly well positioned to carefully support any constructive growth opportunities. Any plans for expansion will have to include an assessment of the ever-increasing costs of regulatory oversight and a considerable amount of time also dedicated to the refocusing of current products and services as well as knowledgeable resources. The growth potential must also be dependent on achieving “Responsible and Sustainable Growth”.
Our primary objective remains to be the leading Bank in The Bahamas providing personal banking services capable of delivering superior quality of products and services to our customers while also providing opportunities for our shareholders and other stakeholders to achieve their financial goals in a safe and sound manner.
In closing, with caution, we look forward to the possible operational and monetary challenges going forward.