New president named at development bank

Tracy Ebanks has been named
the new president and general manager of the Cayman Islands Development Bank.

Ms Ebanks has been acting
president of the bank, which has been providing people with student, small
business and mortgage loans since October 2009.

Ms Ebanks previously held a
series of commercial bank positions at CIBC Bank and Trust and Scotiabank. In
2003 she received a Quincentennial Lifetime Achievement Award. She is also a
middle blocker on the women’s national volleyball team, and treasurer of the CI
Volleyball Federation.

Prior to her most recent
appointment, Ms Ebanks chaired two CIDB committees dealing with credit review
and loan delinquency respectively, and in August 2009 she was appointed as vice
president and deputy manager.

When the bank’s president
resigned three months later, she was promoted to acting president and general
manager. Last month, the board confirmed her in those positions.

A press release states that
Ms Ebanks brought her reputation for down-to-earth pragmatism to an institution
that handles high-risk loans, promoting the economy by stimulating the Islands’
entrepreneurial spirit.

“No application is too small
for CIDB,” she said.

“The bank considers loan
requests from locals to start up or run a range of small businesses, from
automobile repairs, bakeries and beauty salons, to farm applications and retail
tourism sales.”

In addition, the bank
recognises the need to assist small and modest home owners in restructuring
their mortgage loans.

“It is great to work with a government entity that has the
same focus and recognises the role that banks have to play,” she said. “I find
returning to my grass roots and helping Caymanians achieve their goals and
dreams to be hugely rewarding.”