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Offshore news !

Vanuatu To Join The World’s Optical Fibre Internet Backbone

As part of the Government Vanuatu’s commitment to encourage the development of e-business and IT infra- structure, the Vanuatu Government has thrown it’s full support behind the current Joint Venture project between Interchange Limited, a Vanuatu local IT company and Alcatel-Lucent, the giant French telecommunications company to deploy Vanuatu’s first international submarine cable system linking Port Vila, the capital of Vanuatu, to Suva, Fiji.

Scheduled for completion in mid 2012, this new system will deliver faster, more efficient and cost-effective Internet connectivity to the pacific island nation, while removing the current dependence on satellite and strengthening Vanuatu’s competitive position as an e-business hub.

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Banks

Vanuatu has 4 banks offering retail banking services to local and international clients.



BRED (Vanuatu) Limited

BRED (Vanuatu) Limited
CBD Lini Highway,
PMB 9088,
Port Vila, Vanuatu.
Tel: +678 29111
Fax: +678 29003
Website: www.bred.vu

BRED (Vanuatu) Limited is part of the second largest banking group in France, ‘Banque Populaire’, which also has outlets in New Caledonia, Tahiti and now Vanuatu. Servicing mainly the Francophone population of Vanuatu, they do have English speaking staff to service their English speaking clients.

BRED is the ‘New Kid on the Block’ having recently established a presence in 2008. Since then they have made their mark on the local banking industry.

State of Art facilities such as Debit cards and internet banking are available. Being a newly established bank, these 2 facilities are limited in scope at present however it’s just a matter of time before they are up there with the other boys.

 
ANZ Bank (Vanuatu) Limited.

ANZ Bank (Vanuatu) Limited.
PMB 9003
CBD Lini Highway
Port Vila, Vanuatu,
Tel: +678 26355
Fax: +678 22230.
Website: www.anz.com/vanuatu/en/business/

ANZ Bank has had a major presence in Vanuatu since 1971. Over the years it has grown and acquired the operations of Barclays Bank and Bank d’Hawaii and is also known as ANZ Banque Pacifique.

ANZ bank is a stand alone subsidiary bank licensed to carry on banking business in Vanuatu by the Reserve Bank of Vanuatu. It is fully owned by the ANZ Banking Group of Australia. Though ANZ bank in Vanuatu focuses mainly on the domestic market, their facilities are also available to the offshore industry. They offer international Debit cards denominated in most of the major currencies which can only be linked to personal foreign accounts. Their internet banking facilities are state of art and are linked only to personal and local business accounts. No internet banking facilities are available for international company accounts.

ANZ has grown to be a major banking force in the Asia Pacific region having branches and subsidiaries in the South Pacific Region. It has recently acquired the Royal Bank of Scotland’s operations in Asia and has made their presence felt along the way.

 
Westpac Banking Corporation.

Westpac Banking Corporation.
CBD Lini Highway
Port Vila,  Vanuatu 
BSB: 039033
Tel:   +678 22084
Fax: +678 24773
Website: www.westpac.vu

Westpac has had a presence prior to independence as the Bank of New South Wales. It is a branch of the Westpac Banking Group and licensed to carry on banking business by the Reserve Bank of Vanuatu.

It has grown along with the economic development of independent Vanuatu, acquiring the operations of the HSBC along the way. Hence Westpac is no stranger to international/offshore banking here.

Westpac offers state of art internet banking with inter-bank transfer facilities for personal and company accounts. They also provide a Visa based international Debit card to access your funds. This facility can only be linked to a personal account denominated in the local currency, the Vatu. However this is just a simple matter of transferring funds from your company’s foreign account to your local account by the bank’s internet banking facilities all from your computer. Convenience at your finger tips.

The bank also offers accounts in all major foreign currencies.


Westpac is a true Pacific bank with branch locations in Fiji, Cook Islands and the Solomon Islands. Westpac is also represented in Papua New Guinea by Westpac Bank - PNG - Limited, Samoa by Westpac Bank Samoa Limited and in Tonga by Westpac Bank of Tonga.

 
National Bank of Vanuatu

National Bank of Vanuatu. (NBV)
Rue de Paris.
P.O Box 249
Port Vila,
VANUATU
Telephone: +678 22201
Fax: +678 27227
Website: www.nbv.vu

The NBV is wholly owned by the Vanuatu Government and has no overseas parent. From a humble beginning in the early 90's, it has grown to be the bank most widely represented in the Vanuatu archipelago, with 25 branches in total located in every island where there is a substantial population. It can be said this is the people's bank.

NBV has correspondent arrangements and can offer accounts denominated in all the major currencies, i.e. USD, GBP, EUR, AUD etc. The bank recently moved into it’s own new building.

NBV issues a Debit card (isiKad) for use in its local ATMs. NBV has full interchange with Westpac bank, which means that local and international Westpac cards can be used in NBV machines. As with all ATMs in Vanuatu, only Vatu withdrawals are possible.  Internet Banking will be launched early third quarter 2011.

As they say "Watch This Space".