Establishment of the National Bank of Belize

Funding Solutions & Capital Markets, GBRW Consulting, GBRW Group, Policy and Procedure Development, Risk Management, Strategic and Financial Planning, Sustainable & Development Finance

In fulfilling a manifesto promise, the Government of Belize (GOB) incorporated the National Bank of Belize Limited (NBBL).

The Bank’s newly- appointed Board of Directors was tasked with launching the Bank into service and with setting up the strategic and policy framework to govern the operations of the Bank.

GBRW supported NBBL in the formulation of a business plan that charted the way forward during startup and the initial three years of the Bank’s operations. This was necessary in the preparation of an application to the Central Bank of Belize for a banking licence (the Licence Application).
The Business Plan examined potential operational strategies that would enable the Bank to a) become the lowest cost provider to its target market segments in the medium term, b) achieve profitability before the end of its first three years of operation, and c) become a significant player in Belize’s commercial banking sector in the long term. It also proposed an organisation model and recruitment plan which would ensure the Bank’s business and operating model was underpinned by the necessary human resources.

The Business Plan also included a strategic marketing plan, incorporating a product and service roll-out. Each product was analysed according to its risk/ reward profile and aligned to the financial projections and the proposed risk management framework. The Business Plan was then used to raise sufficient start-up capital and solicit further injections, and also to underpin a detailed operating budget.

Deliverables included:

- Preparation of a detailed 3-year Business Plan for a start-up bank

- Development of 3-year financial projections leading to sustainable operations

- A product and service roll-out plan

- A risk management framework in line with local prudential requirements and Basel II

- An operating plan including HR and Information Technology

- A detailed operating budget and capital management plan