BOSLIL, one of the most experienced and reliable offshore banks of the Caribbean region, is now 100% owned by the international holding company Proven and is going to reach a new level. It will also change its name to PROVEN Bank (St. Lucia) Limited as part of the process.
We will focus on the most important aspects related to changes in the ownership structure and see why these changes are a good sign for the bank’s customers.
What is BOSLIL?
BOSLIL can safely be called one of the best offshore financial institutions. Our team has been cooperating with it for many years, and each interaction made us more and more convinced of the high quality of its services and the undeniable professionalism of the bank’s team.
Flexibility, security on an international level, the convenience of work, and the team’s commitment to your results have made the bank one of the most recognizable and recommended banks in the industry.
The account is opened online, with the minimum hassle involved. The procedure is significantly simplified for companies registered in Saint Lucia, and it may take up to 7 business days. However, companies from many parts of the world are welcome to open an account here, which makes the bank a convenient place for international enterprises.
In 2017, the Proven Group owned 75% of the bank, and in 2022 it finally acquired 100% of the financial institution and now has complete control over all the bank’s activities.
BOSLIL as Part of PROVEN – What Really Happened
In 2022, Proven acquired Fidelity Bank (Cayman) Limited (“FBC”) in the Cayman Islands and renamed it PROVEN Bank (Cayman) Limited.
After that, the board of directors decided to reorganize the company and its structure. First, the holding company PROVEN Bank Holdings Limited (“PBHL”) was established. After that, PROVEN Bank (Cayman) Limited acquired Boslil Bank Limited (“Boslil”), which became a direct subsidiary of PBHL.
In the middle of the year, PROVEN also signed a sale agreement with Ryan Devaux, the owner of 25% of BOSLIL shares. The transaction has recently been approved by the regulator, and the former owner of a quarter of the bank became part of the Board of Directors at BOSLIL.
How Will This Affect Customers’ Business?
The representatives of the BOSLIL bank, which is expected to become PROVEN Bank (St. Lucia) Limited, declare that the changes will not affect the customers’ daily operations in any way.
It is emphasized that the union with such an experienced team will only expand the international banking and investment opportunities of the bank in Saint Lucia.
What will happen in practice:
- Customers’ day-to-day banking operations will remain the responsibility of the local team in Saint Lucia
- Strategic planning and management of the entire team will be carried out from the Cayman Islands
- CIMA, the regulator of the 6th largest offshore financial center in the world, will monitor the activities of BOSLIL bank, the quality of infrastructure, and the way it protects information and means
- BOSLIL will also continue to be regulated by the Financial Services Regulatory Authority of Saint Lucia
- And, as mentioned above, the bank will undergo the rebranding procedure to become PROVEN Bank (Saint Lucia) Limited
The quality of service is not expected to suffer in any way from all these changes. Since we are constantly cooperating with the bank’s team and focused on monitoring any changes from the inside, we are sure that it will only become better and more convenient for customers.
Thanks to new connections and resources, the bank will be able to further provide you with competitive products and help realize the goals set for the business.
If you need an account but you are not sure which bank to choose or need to clarify any other details, we invite you to book a free consultation focused on the bank account selection or engage a specialist from our team to immediately proceed to the opening of an account with PROVEN Bank (Saint Lucia) Limited (formerly BOSLIL).
Depending on your needs and goals, we can connect the account to your foreign company or help you register a new company in Saint Lucia or other offshore centers, for example, in Nevis.
Contact the experts of the portal now via info@qwealthreport.com or using messengers.
Remember that you can find plenty of interesting products in the world, but not all of them retain quality over time. BOSLIL is one of those that gets better with time like a really good wine. Proven Bank? Yes, it is proven by years of cooperation with our team and, of course, our clients.
