ANSA Merchant Bank (Barbados), formerly Consolidated Finance, is a licensed Finance Company and Merchant Bank. Established in 1983, we are a subsidiary of ANSA Merchant Bank Limited, which is based in Trinidad and Tobago. Our Merchant Banking Division caters to corporate and commercial customers who seek financial solutions to grow their businesses. Our Treasury Division transacts foreign exchange and offers investment opportunities not only in local currency, but in the major international currencies. We recently commenced offering Residential Mortgages to customers with best-inclass bundles that are unmatched in the local market.
Barbados’ focus on climate resilience and capacity building has been front and centre for many years. Prime Minister, the Honourable Mia Amor Mottley, has set a target for 100% of national energy usage on the island to come from renewable sources by 2030 to reduce expenditure on imported oil, improve environmental sustainability and achieve greater energy security. Currently over 50% of all homes in Barbados are using solar panels for their hot water, with a growing percentage already using Solar Photovoltaic energy and, to a lesser extent, Wind, for electricity. Nearly 50% of the public transportation buses on the island are now powered by electricity, significantly reducing the fuel and annual maintenance bill for the Transport Board.
ANSA Merchant Bank has spearheaded ‘green’ financing for nearly a decade and established partnerships with renewable energy suppliers from early. In 2014 we launched our first green financing expo, offering loans for solar PV systems and solar water heaters for residential and commercial use. Barbadians have embraced this economical, sustainable energy option, and solar panels are visible at properties across the island. We invested significantly in renewable energy Solar PV farm projects, with 50% of our 2023 business already in renewable energy projects, providing approximately 17 Megawatts of power to the grid.
As the premier financiers of electric and hybrid vehicles on the island – 25% of our new vehicle loans – we launched the zero emission Electric Nissan Leaf and are promoting the KIA Niro Hybrid – a no plug-in vehicle which charges itself whilst driving and reduces fuel consumption – and the MG which is a full 100% electric plug in vehicle.
ANSA Merchant Bank is part of the regional ANSA McAL Group, whose purpose is “Inspiring Better Choices for A Better World”, building more sustainable businesses by prioritising:
• water preservation
• waste reduction
• climate impact
• modern energy
• people and communities
• corporate governance
This has supported our drive to create a radical change in our portfolio mix by the end of 2023 reflecting higher lending in the Renewal Energy space.
In seeking to make a real and tangible change to our Bank’s and the wider region’s impact on biodiversity, in July 2022 ANSA Merchant Bank and ANSA Bank in Barbados and Trinidad and Tobago became signatories to the Natural Capital protocols through the international Capitals Coalition, and in conjunction with NGO The Cropper Foundation. This sealed a robust partnership for sustainable development. Under the Natural Capital banner, the Bank has strongly and with purpose embarked on a course which creates its own unique space, the Caribbean Natural Capital Hub, to help minimise humanity’s impacts on Nature. This is the only Hub of its kind operating in this region.
The Hub’s expert communities of practice will be made up of progressive and leading private sector companies from around the Caribbean, who are interested in building the knowledge base on accounting and valuing Nature across industries and sectors. It will facilitate a series of practitioner-focused, capacity-building workshops to expand the human resource capacity within the region around mainstreaming reporting for Nature within the private sector. An example of this is our first virtual Global Capitals Coalition Dialogue which took place at the end of 2022. This is a forum for sharing practices on Natural Capital and its applications with the private sector and other key development sectors through expert presenters and panellists.
Grant challenges will be offered which will excite and motivate SMEs, NGOs and innovators in these markets and give them the opportunity and platform to make a real positive change.
Ultimately, the Caribbean Natural Capital Hub aims to enhance the understanding, capacity and inclusion of Natural Capital approaches in business decision-making and planning. As a facilitator for multi-stakeholder involvement, ANSA Merchant Bank will create a progressive and more Nature-positive Caribbean. A deeper understanding of the Hub is provided at Natural Capital - ANSA Merchant Bank:
ANSA Merchant Bank (Barbados) Limited