Notice to Commercial Banks and Savings and Housing Banks on the Opening of New Branches, November 22, 2001
- Banks must submit branch opening projects for the coming fiscal year by September 30 of each year, and individual requests six months before the planned opening.
- After BRH authorization, a bank has six months to start operations at the new branch, or it must seek a new authorization.
- A bank must request an inspection visit one month before the planned opening date, and advertising of a new office or branch is allowed only after authorization.
- Permanent resources must cover 100% of permanent uses, with debentures counted up to 50% of book equity and revaluation gains excluded.
- Requests include a market and profitability study and, for the investment budget and profitability analysis, at least two scenarios (pessimistic and optimistic).
The notice tells commercial banks and savings and housing banks that, with reference to article 25 of the decree of November 14, 1980 regulating banks, new branch openings follow a set procedure. Banks submit their branch opening projects for the coming fiscal year by September 30, requests are processed individually and must be filed six months before the planned opening, and a bank has six months after authorization to start operations.
A bank requesting authorization must show that its permanent resources cover 100% of its permanent uses, and each request includes a market and profitability study with seven listed components, from location and socio-economic data to a five-year profitability analysis with at least two scenarios. The notice is signed on November 22, 2001.
How to cite
Bank of the Republic of Haiti (BRH), Notice to Commercial Banks and Savings and Housing Banks on the Opening of New Branches, November 22, 2001, https://www.brh.ht/wp-content/uploads/2018/08/avissuccursale-1.pdf
- Rights holder
- Banque de la République d'Haïti (BRH)