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Expanding Access to Finance: The Belize Bank Branch in Caye Caulker

In its commitment to become the top-tier financial institution in the market it serves, The Belize Bank has established a full service branch, on Chapoose Street, in Caye Caulker. This exciting development aims to address the growing demand for financial services in this popular tourist destination and thereby caters to the needs of both locals and visitors alike. Access to finance plays a vital role in the economic development of any community. It enables individuals and businesses to manage their finances, invest in opportunities, and achieve their goals. 

In a place like Caye Caulker, where tourism is thriving, the need for financial services is ever-increasing.The opening of the Belize Bank branch in Caye Caulker marks a significant milestone in expanding access to finance in this vibrant tourist area and reflects the bank’s commitment to accessibility, inclusivity, economic development, and empowering local communities. With its wide range of innovative financial services, the Belize Bank is poised to make a positive impact on the island’s economy and contribute to its continued growth.

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Caribbean Information and Credit Rating Services Limited (CariCRIS) Upgrades Corporate Credit Ratings for The Belize Bank Limited

Belize City, Belize – January 8, 2023 – On December 14, 2023, CariCRIS, credit rating agency, announced the upgrading of corporate credit ratings for The Belize Bank Limited (BBL) by 2 notches, affirming its position as a key player in the Belizean commercial banking industry.

The ratings are as follows:
– CariBBB- (Regional Scale Foreign Currency)
– CariBBB- (Regional Scale Local Currency)
– bzAA+ (National Scale Local Currency)

A copy of the CariCRIS Press Release can be viewed HERE.

According to CariCRIS, these ratings signify a commendable level of creditworthiness for BBL when compared to both regional and national peers. The upgrade on the regional scale is attributed to macroeconomic factors related to GDP growth, mainly the enhanced credit risk profile of the sovereign, with a notable reduction in general government debt to 59.3% of GDP in 2023 from 101.4% in 2020. The real GDP has surpassed pre-COVID levels, showing sustained growth after the 13.4% contraction in 2020. Anticipated growth of approximately 2.5% over the medium term is expected to further fortify BBL’s position.

CariCRIS also announced a stable outlook, indicating confidence that BBL will sustain strong financial performance, will remain well capitalized and keep strong asset quality. This expectation is underpinned by the implementation of ongoing digital initiatives within the next 12 to 15 months. Furthermore, structural reforms in Belize and the recovery of tourism activity are anticipated to contribute to the economic improvement in the country, supporting the stability of BBL’s credit risk profile.

The Chairman of The Belize Bank Limited, Filippo Alario, expressed satisfaction with the ratings, highlighting the institution’s robust presence in the Belizean commercial banking sector: “This upgrade in credit ratings is a resounding endorsement of the Bank’s strategic plan showcasing our focus on innovation, financial inclusion and financial wellness of our customers. Despite the challenging macroeconomic conditions, I’m impressed by the resilience and dedication of our teams in achieving our business goals and supporting our clients with strength and confidence. We remain excited about the future as we continue purposefully on our mission.”

He further emphasized the bank’s extensive distribution network, solid risk management framework, and ongoing digital initiatives as key factors supporting the positive assessment.

The upgraded ratings reflect the continued success of The Belize Bank Limited in navigating both regional and national economic landscapes, showcasing its resilience and strategic positioning within the industry.

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Belize Bank remains committed to making a positive impact in the community it serves!

‘Tis the season of giving, and on Friday, December 8th, Belize Bank participated in a heartwarming event – HelpAge Belize’s Christmas Party. The afternoon was filled with laughter, love, and the spirit of giving as we joined hands to make a difference in the lives of the elderly in Belize City.

As part of our commitment to community welfare, Belize Bank made a donation to support HelpAge Belize’s Christmas Party. Our contribution aimed to enhance the festivities and bring smiles to the faces of the elderly attendees. 

The holiday season is not just about receiving; it’s about giving back and spreading joy. Belize Bank understands the importance of community involvement, and we are delighted to have played a role in creating a memorable experience for the elderly residents of Belize City.

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Belize Bank successfully hosts its 12th Annual Stella Maris Christmas party!

In a heartwarming event today, the Belize Bank successfully hosted its 12th Annual Christmas party, spreading festive cheer to over 130 children with special needs from Stella Maris Primary School. The event unfolded at The Hub, generously provided as this year’s venue.

The Belize Bank, known for its commitment to community engagement, went above and beyond to create a joyful atmosphere for the attendees. Santa’s Helpers from the bank orchestrated an array of activities, including games, dancing, and face painting, captivating the children’s spirits.

A particularly enchanting feature of the morning was the establishment of a mini petting zoo, where the children delighted in interacting with hamsters, guinea pigs, chicks, piglets, and baby lambs. This interactive experience added an extra layer of joy to the celebration, leaving lasting memories for the young participants.

Ensuring a holistic experience, all attendees, including the children, teachers, and staff members from Stella Maris, were treated to a traditional Belizean Christmas lunch, fostering a sense of unity and shared celebration.

As the festivities continued, the highlight of the day unfolded when Santa made a grand entrance, presenting each child with carefully selected gifts generously donated by the Belize Bank Ltd. This gesture not only brightened the day for the young recipients but also underscored the bank’s dedication to making a positive impact in the local community during the holiday season.

The 12th Annual Christmas party organized by the Belize Bank stands as a testament to the institution’s ongoing commitment to corporate social responsibility, bringing joy and creating cherished moments for the children of Stella Maris Primary School.

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In collaboration with Hand in Hand Ministries, Ms. Georgina Flores, a single mother of two, was recently presented with the keys to her new residence through the philanthropic efforts of Belize Bank Limited. This marks the twelfth family that the bank has supported under the Hand in Hand’s “Building for Change” Program, providing essential financial backing for housing initiatives.

Despite inclement weather during the weekend of November 3rd to the 5th, Belize Bank volunteers from the Orange Walk and Corozal branches, exhibited unwavering dedication as staff members actively participated in the initiative. The collective efforts of 28 volunteers exemplify the genuine spirit of community mobilization for a noble cause, specifically the creation of a comfortable abode that will significantly enhance the quality of life for Ms. Georgina and her family.

Ms. Georgina expressed heartfelt appreciation to Belize Bank Ltd. and Hand in Hand Ministries for making her dream of owning a home into a tangible reality. This collaborative endeavor not only underscores the financial institution’s commitment to social responsibility but also highlights the impactful outcomes achievable through community collaboration and support.

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Press Release: Belize Bank and The MSR Group Join Forces to Revolutionize Customer Feedback with Cutting-Edge Technology

[BELIZE CITY, BELIZE] — November 3rd, 2023 — The Belize Bank Limited is excited to announce a strategic partnership with The MSR Group, a leading customer feedback and market research solutions provider, to enhance the customer experience through innovative technology. This collaboration is set to transform the way customers can provide feedback and insights, allowing Belize Bank to continually improve and better serve its valued customers.

In today’s fast-paced and digitally-driven world, customer feedback is invaluable for any business seeking to deliver top-notch services and products. Belize Bank recognizes the importance of listening to its customers and understanding their needs, and this partnership with The MSR Group underscores its commitment to enhancing the customer experience. The MSR Group brings its extensive expertise in feedback and research solutions to the table, helping Belize Bank implement cutting-edge technology that will simplify and streamline the feedback process for customers. The technology is designed to make it easier than ever for customers to share their thoughts, suggestions, and concerns, thus fostering a more transparent and customer-centric environment at Belize Bank.

Key features of this exciting collaboration include:
1. Mobile and Web Accessibility: Customers can provide feedback from anywhere, using their smartphones or computers, making it more convenient and accessible than ever before.

2. Real-time Insights: The technology will enable Belize Bank to receive and analyze customer feedback in real time, allowing for immediate responses and quicker service enhancements.

3. Anonymous Feedback Option: Customers who prefer anonymity will have the option to provide feedback without disclosing their identity, ensuring honest and unfiltered opinions.

4. Feedback Analysis Tools: The partnership will implement advanced analytics and reporting tools to gain deeper insights into customer feedback, ultimately leading to more tailored solutions and services.

5. Enhanced Customer Engagement: Belize Bank will use the feedback received to make informed decisions and tailor its offerings to better align with customer expectations and needs.

Ms. Agata Ruta, COO, of Belize Bank, expressed her enthusiasm for this collaboration, stating, “We believe in putting our customers at the forefront of everything we do. With The MSR Group’s advanced technology and expertise, we aim to create a seamless and customer-centric feedback process. We want to hear our customers’ voices and take immediate action to address their concerns and improve our services. This partnership represents our commitment to providing an exceptional banking experience.”

Dr. Donald Beck, CEO of The MSR Group, also commented on the collaboration, saying, “We are thrilled to partner with Belize Bank to elevate their customer feedback processes. The combination of our technology and Belize Bank’s commitment to customer satisfaction will undoubtedly result in a more responsive and customer-centric financial institution.”

The Belize Bank Limited and The MSR Group are eager to launch this technology-driven customer feedback system, which will undoubtedly set new standards for the industry in Belize.

About Belize Bank: Belize Bank, a premier financial institution, has been serving the Belizean community for decades. With a commitment to excellence, innovation, and customer satisfaction, Belize Bank offers a wide range of banking and financial services, continuously striving to meet the diverse needs of its customers.

About The MSR Group: The MSR Group is a global leader in customer feedback and market research solutions. With a history of providing data-driven insights, The MSR Group specializes in creating innovative technology solutions to empower businesses to better understand their customers and improve the customer experience.

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Belize Bank Strengthens Merchant Partnerships with Resumption of Merchant Training Seminars

Belize City, Belize – November 2, 2023 – Belize Bank, a leader in the financial industry, is proud to announce the revival of its highly anticipated Merchant Training Seminars.  Aligned with our strategic Acquiring approach and our dedication to enhancing our partnership with merchants across the country, we are thrilled to provide this invaluable resource to our esteemed customers.

The Merchant Training Seminars are designed to empower our merchants with the knowledge and skills needed to thrive in today’s dynamic business environment. These seminars cover a range of engaging and pertinent topics that are essential for success in the merchant industry. Some of the key areas addressed include:

  • Best Practices for Payment Acceptance: Ensuring seamless payment processing for enhanced customer satisfaction.
  • Effective Dispute Resolution Techniques: Equipping merchants with the tools to handle customer concerns and disputes professionally.
  • Streamlining Reconciliation Processes: Improving efficiency in financial record-keeping and reporting.
  • Proactive Measures for Fraud Prevention: Safeguarding businesses against potential fraudulent activities.
  • Ecommerce: Navigating the world of online sales and transactions for increased revenue opportunities.
  • Insights into E-kyash Transactions: A deep dive into electronic payment methods, offering a competitive edge.

The first seminar took place on Friday, October 27th, in San Ignacio, catering to our western-based merchants, including those from Belmopan, San Ignacio, Santa Elena, and the surrounding areas. The success of this inaugural event underscores the high demand for such training and knowledge-sharing opportunities.

Upcoming seminars are scheduled to continue this momentum, with events planned on November 17th in Belize City, tailored to northern and central-based merchants and November 24th in Placencia, targeting our southern-based merchants.  For San Pedro and Caye Caulker merchants, please note a special seminar will be hosted for you early next year.

These seminars are not just an investment in our merchant partners but a testament to Belize Bank’s dedication to their continued success. We are committed to equipping our valued customers with the tools and insights necessary to thrive in their business endeavors.

For more information about Belize Bank and its Merchant Training Seminars and to find out how you can attend please click here to contact the respective Merchant Development Officer in your region.


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Chairman & CEO Mr. Filippo Alario is a panelist at the prestigious 2023 Belize Investment Summit

Our CEO, Filippo Alario, was honored to participate as a panelist at the prestigious 2023 Belize Investment Summit. As the head of Belize’s largest financial institution, Mr. Alario had the privilege of sharing the stage with CEO Henry N. Anderson and Chairman Reynaldo Magana, engaging in insightful discussions surrounding investment opportunities and challenges within Belize.

During this forum, Mr. Alario also had the opportunity to shed light on Belize Bank’s pioneering efforts to revolutionize the banking industry, focusing on enhancing accessibility, efficiency, and innovation in financial services. These strides are exemplified through the successful implementation of various digital strategies, including the introduction of Belize’s premier digital wallet, E-kyash, and the launch of Belize’s inaugural fully digital online loan application platform.

We are excited to continue driving progress in Belize’s financial landscape.

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Belize Bank Announces its 2023 Scholarship Recipients

July 28th, 2023 – The Belize Bank Limited awarded fourteen students with scholarships to  secondary and tertiary level institutions of their choice.  Now in its eleventh year, the Belize Bank is proud to have awarded over 160 scholarships to deserving Belize students from every corner of the country.

This year’s high school scholarship recipients are: Audrina Arevalo, Makiya Wade, Victor Young, Kevin Calderon, Mackenzy August, Natanael Chuc, David Burgos Jr. and Joseph Cal

The sixth form scholarship recipients are: Akeem Arnold, Ilia Ruiz, Samuel Gilharry, Emanuel Ortiz, Tiara Castillo and Sueidy Torres.

The Belize Bank Scholarship Program includes full tuition and a book grant for high school students and full tuition for sixth form students. 

In addition to funding the students’ education, the Bank provides mentors for its scholars.  The Retail Branch Managers are tasked with monitoring and developing relationships with these young scholars in order to provide them with guidance through their academic journey.

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IDB Invest partners with Belize Bank Limited to Boost Trade among Small and Mid-sized Businesses

May 19, 2023 – The Belize Bank Limited was welcomed into IDB Invest’s Trade Finance Facilitation Program with the signing of a $10M credit line agreement to boost trade among small and mid-sized businesses.

The signing ceremony took place on May 18th at IDB Invest’s office in Belize, with the participation of CID General Manager, Tomas Bermudez, Rocío Medina Bolívar, IDB Group Country Manager in Belize, Marisela Alvarenga, IDB Invest Division Chief for Financial Institutions, and Filippo Alario, BBL Executive Chairman.

Through this partnership, the Belize Bank looks forward to catering to the growing financial needs of SMEs and Business Banking clients, providing them with the ability to access financing to become more competitive in international markets which will ultimately contribute significant  growth to the Belizean economy.

Belize Bank Limited offers the full range of retail banking products to its clients through a wide branch network. The credit line will support BBL as it diversifies its network of correspondent banks to offer trade products to a wider range of SMEs and clients in Belize.

Financial systems in the Caribbean and other small economies have been affected by “de-risking” policies of international banks, and the high compliance costs of these large banks have left banks like BBL with limited access to trade finance and corresponding banking networks.

“This operation will contribute with the development of MSMEs allowing them to access the necessary funding to become competitive in the international markets. As we know, MSMEs are the backbone of the economy in Belize, providing employment to more than two thirds of the labor force,” said Rocío Medina Bolivar, the newly appointed IDB Country Representative for Belize.

IDB Invest’s Marisela Alvarenga said, “The incorporation of The Belize Bank Limited to IDB Invest’s Trade Finance Facilitation Program will increase investment and trade in the country, necessary for strengthening the financial systems across the Caribbean.”

Belize Bank Limited’s Filippo Alario said, “As Belize’s largest bank we are delighted to become part of IDB Invest TFFP Program’s network as Latin American and Caribbean Financial Intermediaries. Through this partnership, we look forward to promoting trade and contribute to our clients’ ability to become more competitive by accessing financing and grow their international business as well as to contribute to the growth of the Belizean economy.”

This partnership reinforces the commitment of IDB Invest and Belize Bank Limited to create a hub for investment and trade for the nation and the region while creating opportunities for communities. This deal is expected to contribute to two United Nations Sustainable Development Goals (SDGs): Decent Work and Economic Growth (SDG 8) and Reduced Inequalities (SDG 10).

About IDB Invest

IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $15.3 billion in asset management and 375 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.

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