In 1974 Cayman National Bank and Trust Company Limited opened for business as a financial institution owned by Caymanians for Caymanians under the direction of Peter Tomkins and a group of prominent business people.
The company holds a category A banking license, and a trust licence subject to the provisions of the Banks and Trust Companies Law of the Cayman Islands and provides full service banking facilities to domestic and international clients in major currencies. These services, which are on offer to personal or corporate clients, include:
- Chequing, savings and deposit accounts
- Overdrafts, loans and other trade finance products
- VISA and MasterCard branded debit and credit cards
- ATMs, telephone and Internet banking
- Multiple customer service centres on all thee islands comprising the Cayman Islands.
Here is a timeline of how the company has grown over the years:
1974: Cayman National Bank and Trust Company Limited opened for business.
1976: Corporate re-organisation took place. Cayman National Securities Ltd. was formed as wholly owned subsidiaries of the holding company to carry on trust and corporate management business and stock broking respectively.
1977: 100,000 shares offered to the public, resulting in a broadening of ownership to approximately 150 members. Branch opened at Cotton Tree Bay in Cayman Brac.
1979: The Bank announced its first scholarship to young Caymanians wishing to pursue a course of education relevant to the financial industry.
1982: The Banking Hall at West Wind received a face-lift.
1983: The Corporation reached an agreement with International Bank of Washington and Guardian Royal Exchange of London to launch Cayman General Insurance Co. Ltd. – Cayman’s first domestic insurance company.
1984: Cayman General Insurance began operations. Cayman Overseas Bank and Trust Co. Ltd. became Cayman Overseas Trust Co. Ltd., standing at arm’s length from any bank activity conducted by Cayman National Bank.
1985: Cayman Trust Co. Ltd. was established in the Isle of Man becoming CNC’s first venture overseas.
1986: Growth and another record profit for the 13th consecutive year pushed the balance sheet over the CI$100 million mark.
1987: Cayman Trust Co. Ltd. received authority to add deposit-taking activity to its trustee and corporate management operations while in Cayman. All subsidiaries upgraded equipment – especially computers – and a modern teller system.
1988: Opening of a satellite operation in the Galleria Shopping Plaza on West Bay Road.
1989: CNB became a full member of both the MasterCard and Visa organisations with a view toward issuing its own credit cards. Cayman Trust Co. Ltd. was granted a full banking licence.
1990: CNB’s operation in Cayman Brac was relocated to West End.
1991: Cayman Overseas Trust Co. Ltd. and Cayman Securities Ltd. amended their names to Cayman National Trust Co. Ltd. and Cayman National Securities Ltd. To avoid confusion with the trust company, the bank amended its name from Cayman National Bank and Trust Co. Ltd. to Cayman National Bank Ltd. In an effort to standardise the name and to update the image, a new logo was adopted. Issued its own MasterCard credit card, which was the only international credit card issued locally; became a member of MasterCard/CIRRUS and bought two acres of land in George Town – the site for the group’s future headquarters. Opened an office in Little Cayman.
1992: A milestone was passed with total assets reaching the CI$200 million mark.
1993: Profits reached a new record of more than CI$3 million.
1994: Opened a fourth office at the Mirco Commerce Centre and fourth ATM at Foster’s Food Fair, Airport Road.
1996: All Cayman subsidiaries moved to the new headquarters on Elgin Avenue in George Town.
1997: Cayman General Insurance moved to the Cayman National Building, bringing all companies under one roof.
1998: A further 1 1/2 acres, directly opposite the Cayman National Building, were bought for development of its anticipated future needs. Cayman National stock was listed on the Cayman Islands Stock Exchange.
1999: Cayman National celebrated 25 years of successful operations.
2000: Cayman National Bank became the only bank on Cayman Brac when Barclays closed its branch, and installed its first automated teller machine on the Sister Island of Cayman Brac.
2001: Cayman General Insurance relocated to Harbour Place to make room for the expansion needed by other areas of the Group. CNB implemented its new bank software system, Phoenix, merged its branch at the Mirco Centre with the Elgin Avenue branch and relocated its Galleria Plaza branch to new facilities at Buckingham Square.
2002: Introduced Cayman In-Touch (telephone banking), Cayman Global (Internet banking) and two off-site self service centres. Launched its website – www.caymannational.com – and an internal website for staff to increase efficiencies and productivity.
2003: Took on the role as the official bank of the Quincentennial Celebrations and sponsored several community involvement initiatives.
2004: After 10 years of service, Eric Crutchley retired as chief executive and president of the Group, to be succeeded by Stuart Dack.
2005: Cayman National Bank was awarded the prestigious Bank of the Year 2005 (Cayman Islands) award by the Banker Magazine (Financial Times)
2006: Cayman National Bank opened its seventh customer service centre on 25 September.
A refreshed brand identity was launched, which featured a new and improved brandmark.
Cayman National stock commenced trading through the Cayman Islands Stock Exchange on 7 November.
A re-branding of The Isle of Man business was carried out to better reflect the Cayman National Group, dropping the former name Cayman Trust to change to Cayman National Bank and Trust Company (Isle of Man) Ltd., and also incorporated a new company Cayman National Fund Services (Isle of Man) Ltd.
2007: Cayman National further strengthened its international efforts with the opening of a representative office in Panama – Cayman National Bank Ltd. Oficiana de Representación (Panama).
Cayman National and Aon became partners in a joint business venture, which will offer domestic insurance clients access to Aon’s global network. The new joint venture is Aon Cayman National Insurance Brokers Ltd.
Cayman National Bank’s 8th customer service centre and 17th ATM were officially opened in Camana Bay. The funds and fiduciary offices were also relocated to this prestigious development.
A full licensing to conduct business in Dubai was issued with the offices of Cayman National (Dubai) Ltd. to be located in the Dubai International Financial Centre.
Cayman National Bank was awarded the prestigious Bank of the Year 2008 (Cayman Islands) award by the Banker Magazine (Financial Times)
Cayman National Fund Services Ltd. was added to the Cayman National group of companies which forms part of the International Financial Services operations.
Cayman National took on the sponsorship of the roundabout adjacent to its head office in George Town and unveiled The Cayman National Roundabout.
2009 Cayman National celebrates its 35th anniversary.