BVI FSC Issued Fifteenth Volume of Statistical Bulletin
On October 20, BVI FSC published fifteenth volume of its regular Statistical Bulletin, including statistics and analysis of financial services industry in BVI for the second quarter of 2009. The Statistical Bulletin for Q2 ended 30 June 2009 comprises following information:
The Registry of Corporate Affairs reported that the number of newly registered business companies in this period was 9,871, compared to 12,307 in the first quarter of 2009 (fourteenth volume of Statistical Bulletin) and 15,831 in the second quarter of 2008. Cumulative number of company registrations by the end of Q2 2009 was 405,873. The Registry informed of 24 Limited Partnerships established in the reported period, compared to 14 and 26 established in Q1 2009 and Q2 2008 respectively. In general, there is a significant fall in the number of BVI business company incorporations in the first half of 2009, against the statistics for the corresponding periods of 2008, 2007 (when the largest number of incorporations was fixed) and even 2006.
Banking and Fiduciary Services statistics includes financial results of the banking sector of BVI for the second quarter of 2009: total assets for the commercial banks were reported in the amount of US$2480mln, the number of total cash items made US$967,4mln. Total shareholders equity in this period was US$339,59mln. Net income in the banking sector was US$33,44mln. The level of liquidity was higher than in the first quarter of 2009: liquid assets made 29.32% of the total assets and 46.48% of the total deposits (compared to 25.25% and 35.73% respectively in Q1 2009), and loans made 61.75% of total assets and 98.71% of total deposits in the second quarter (compared to 68.41% and 103.93% respectively in Q1).
According to the Investment Business Statistics, in Q2 2009 46 new licenses were granted to mutual funds (33 of which are professional funds, 12 are private funds and 1 is public fund), compared to 61 licenses issued in Q1 2009 and 100 licenses in Q2 2008. As to Insolvency Services Statistics, the number of Insolvency practitioners did not change from the previous reported period. Legal and International Co-operation Statistics figures for the reported period show that there were 45 international co-operation matters, including formal and informal requests, 53 enforcement matters and 9 advisory warnings issued.
Other information related to the regulation of financial services activities in the period ended 30 June 2009, including legal and international co-operation, on-site compliance inspections, ongoing supervision by the Licensing and Supervisory Committee and other matters can be found on the home page of BVI FSC.
The Registry of Corporate Affairs reported that the number of newly registered business companies in this period was 9,871, compared to 12,307 in the first quarter of 2009 (fourteenth volume of Statistical Bulletin) and 15,831 in the second quarter of 2008. Cumulative number of company registrations by the end of Q2 2009 was 405,873. The Registry informed of 24 Limited Partnerships established in the reported period, compared to 14 and 26 established in Q1 2009 and Q2 2008 respectively. In general, there is a significant fall in the number of BVI business company incorporations in the first half of 2009, against the statistics for the corresponding periods of 2008, 2007 (when the largest number of incorporations was fixed) and even 2006.
Banking and Fiduciary Services statistics includes financial results of the banking sector of BVI for the second quarter of 2009: total assets for the commercial banks were reported in the amount of US$2480mln, the number of total cash items made US$967,4mln. Total shareholders equity in this period was US$339,59mln. Net income in the banking sector was US$33,44mln. The level of liquidity was higher than in the first quarter of 2009: liquid assets made 29.32% of the total assets and 46.48% of the total deposits (compared to 25.25% and 35.73% respectively in Q1 2009), and loans made 61.75% of total assets and 98.71% of total deposits in the second quarter (compared to 68.41% and 103.93% respectively in Q1).
According to the Investment Business Statistics, in Q2 2009 46 new licenses were granted to mutual funds (33 of which are professional funds, 12 are private funds and 1 is public fund), compared to 61 licenses issued in Q1 2009 and 100 licenses in Q2 2008. As to Insolvency Services Statistics, the number of Insolvency practitioners did not change from the previous reported period. Legal and International Co-operation Statistics figures for the reported period show that there were 45 international co-operation matters, including formal and informal requests, 53 enforcement matters and 9 advisory warnings issued.
Other information related to the regulation of financial services activities in the period ended 30 June 2009, including legal and international co-operation, on-site compliance inspections, ongoing supervision by the Licensing and Supervisory Committee and other matters can be found on the home page of BVI FSC.
Labels: Banking, BVI Companies, BVI Financial Services Comission, Financial Services, Statistics
posted by Brian Obvi, Offshore Analyst | 6:49 PM
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